Difference between revisions of "ANLY482 AY2016-17 T2 Group3: HOME/Interim"
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| − | + | ||
| + | === Overview === | ||
| + | ==== Project Background & Motivation ==== | ||
| + | Vanitee was officially launched in May 2015, in an attempt to bridge the gap between customers and independent beauty professionals. Typically, beauty professionals that are listed on the platform are emerging and independent beauty artists. To put it simply, they are professionals who want to grow their brand and customer base. By providing such a platform, Vanitee is able to help them showcase what they do best. | ||
| + | |||
| + | However, this does not mean that there are no competitors. Competitors include brick and mortar shops in local neighbourhoods and even bigger beauty brands with chain stores such as Jean Yip Group. Even though these are physical stores, they still pose as a threat as customers can still choose to go to these stores instead of using Vanitee to engage a beauty professional. Hence, Vanitee does not want to stop at just providing a platform for these beauty professionals and for customers to engage them. Furthermore, with an increasing number of professionals and customers coming on board, evaluating their performance so far becomes much more imperative. | ||
| + | |||
| + | Firstly, to further the success of their application, Vanitee has to place emphasis on attracting new customers as well as retaining their existing customers. Many customers might have become dormant after just one booking. Hence, analysis can be done to find out why they have turned dormant and identify possible solutions to attract them to make the next booking. | ||
| + | |||
| + | Secondly, in response to these dormant customers, Vanitee currently has an extensive loyalty program (as shown in Figure 1) in place that offers customers credits, gems as well as campaign codes with every booking made. However, one issue they face is the lack of understanding of how consumers utilize these in-app resources. Also, they wish to understand the effectiveness of such a loyalty program in encouraging customers to make repeated bookings in the future. | ||
| + | |||
| + | <br/> | ||
| + | [[File:V_Loyalty_Program.png|400px|center]] | ||
| + | <div align="center"> Figure 1 - Vanitee’s current loyalty program </div> | ||
| + | <br/> | ||
| + | |||
| + | ==== Project Objectives ==== | ||
| + | Hence, by utilizing the data from their current application’s database, we would wish to discover meaningful and informative insights which will allow Vanitee to better retain their customers and beauty professionals and understand the effectiveness of their current loyalty program. To achieve the above mentioned, we have set the following objectives: | ||
| + | |||
| + | <u> Customers </u> <br/> | ||
| + | * To determine the customer segmentation (different groups of customers) from the current booking patterns. Which customers are stagnant? Which customers are actively using the app? | ||
| + | * To understand customers’ behaviour. When was the last time a customer used the app? How frequent does a customer use the app? How much does a customer spend on average? | ||
| + | * To evaluate the effectiveness of using campaign codes to ensure customers repeat their bookings | ||
| + | * To understand how customers are using credits and gems (refer to Figure 2), whether they are accumulating before use or using them in their next booking | ||
| + | |||
| + | <u> Beauty Professionals </u> <br/> | ||
| + | === Data Integration and Filtering === | ||
| + | ==== Data Collection ==== | ||
| + | ==== Extracted Tables ==== | ||
| + | <u>Bookings</u> <br/> | ||
| + | <u>Campaigns</u> <br/> | ||
| + | <u>Categories</u> <br/> | ||
| + | <u>Users</u> <br/> | ||
| + | <u>Customers</u> <br/> | ||
| + | <u>Professionals</u> <br/> | ||
| + | <u>Services</u> <br/> | ||
| + | ==== Challenges ==== | ||
| + | === Data Cleaning and Exploration === | ||
| + | ==== Issues ==== | ||
| + | ==== Duplicate Values ==== | ||
| + | ==== Missing Values ==== | ||
| + | ==== Changes in Business Model ==== | ||
| + | ==== Findings ==== | ||
| + | <u>Users, Customers & Professionals </u> <br/> | ||
| + | <u>Bookings</u> <br/> | ||
| + | <u>Services</u> <br/> | ||
| + | <u>Campaigns</u> <br/> | ||
| + | === Revised Methodology === | ||
| + | ==== Cluster Analysis ==== | ||
| + | ==== Survival Analysis ==== | ||
| + | === Revised Scope of Work === | ||
| + | === Project Timeline === | ||
| + | === Revised Work Plan === | ||
| + | |||
| + | |||
| + | |||
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Revision as of 18:51, 22 February 2017
| HOME | ABOUT US | PROJECT OVERVIEW | PROJECT FINDINGS | PROJECT MANAGEMENT | DOCUMENTATION | ALL PROJECTS |
Contents
Overview
Project Background & Motivation
Vanitee was officially launched in May 2015, in an attempt to bridge the gap between customers and independent beauty professionals. Typically, beauty professionals that are listed on the platform are emerging and independent beauty artists. To put it simply, they are professionals who want to grow their brand and customer base. By providing such a platform, Vanitee is able to help them showcase what they do best.
However, this does not mean that there are no competitors. Competitors include brick and mortar shops in local neighbourhoods and even bigger beauty brands with chain stores such as Jean Yip Group. Even though these are physical stores, they still pose as a threat as customers can still choose to go to these stores instead of using Vanitee to engage a beauty professional. Hence, Vanitee does not want to stop at just providing a platform for these beauty professionals and for customers to engage them. Furthermore, with an increasing number of professionals and customers coming on board, evaluating their performance so far becomes much more imperative.
Firstly, to further the success of their application, Vanitee has to place emphasis on attracting new customers as well as retaining their existing customers. Many customers might have become dormant after just one booking. Hence, analysis can be done to find out why they have turned dormant and identify possible solutions to attract them to make the next booking.
Secondly, in response to these dormant customers, Vanitee currently has an extensive loyalty program (as shown in Figure 1) in place that offers customers credits, gems as well as campaign codes with every booking made. However, one issue they face is the lack of understanding of how consumers utilize these in-app resources. Also, they wish to understand the effectiveness of such a loyalty program in encouraging customers to make repeated bookings in the future.
Project Objectives
Hence, by utilizing the data from their current application’s database, we would wish to discover meaningful and informative insights which will allow Vanitee to better retain their customers and beauty professionals and understand the effectiveness of their current loyalty program. To achieve the above mentioned, we have set the following objectives:
Customers
- To determine the customer segmentation (different groups of customers) from the current booking patterns. Which customers are stagnant? Which customers are actively using the app?
- To understand customers’ behaviour. When was the last time a customer used the app? How frequent does a customer use the app? How much does a customer spend on average?
- To evaluate the effectiveness of using campaign codes to ensure customers repeat their bookings
- To understand how customers are using credits and gems (refer to Figure 2), whether they are accumulating before use or using them in their next booking
Beauty Professionals
Data Integration and Filtering
Data Collection
Extracted Tables
Bookings
Campaigns
Categories
Users
Customers
Professionals
Services
Challenges
Data Cleaning and Exploration
Issues
Duplicate Values
Missing Values
Changes in Business Model
Findings
Users, Customers & Professionals
Bookings
Services
Campaigns
Revised Methodology
Cluster Analysis
Survival Analysis
Revised Scope of Work
Project Timeline
Revised Work Plan
