How Spotify approaches predictive data modelling to improve forecasting, monetization and customer journeys
How predictive modelling practices can improve customer journeys and inform value-based decision making
There is no perfect predictive data model and they all come with trade-offs. For many organizations the primary challenge is evaluating the impact of data models and deciding which touchpoints to incorporate based on customer satisfaction and monetization.
Speaking at CX Network Live: Predictive CX 2023, Ruchika Singh, director of data science and insights at Spotify, discussed how the streaming giant has leveraged predictive modelling practices. Predictive modelling has been applied at Spotify as part of controlled experimentation and assessment aimed at informing value-based decisions and improving customer journeys.
Singh explained that the best data science models enabled organizations to fit their data to their assumptions, while referencing the impact of leveraging data models to improve forecasting. She also revealed how businesses can assess their predicative data models and assessed the use of unsupervised machine learning in creating and understanding customer clusters.
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