Analyzing past purchases
Posted: Thu May 29, 2025 8:46 am
While less impactful for purely digital services, geographic location can influence cultural nuances, regulatory compliance, and logistical considerations for businesses dealing with physical goods or requiring on-site support.
Legal Structure: The legal form of a business (e.g., sole proprietorship, partnership, corporation) can sometimes influence purchasing processes and risk appetite.
Behavioral Characteristics: Understanding how customers shop interact with a vendor and what their purchasing habits are provides critical insights for categorization.
Purchase History: (frequency, volume, type of products/services) can reveal patterns and predict future needs. This helps in identifying loyal customers, high-value clients, and potential upsell/cross-sell opportunities.
Usage Patterns: For subscription services or software, how actively and deeply a customer uses the product can indicate their engagement level and potential for churn or expansion.
Legal Structure: The legal form of a business (e.g., sole proprietorship, partnership, corporation) can sometimes influence purchasing processes and risk appetite.
Behavioral Characteristics: Understanding how customers shop interact with a vendor and what their purchasing habits are provides critical insights for categorization.
Purchase History: (frequency, volume, type of products/services) can reveal patterns and predict future needs. This helps in identifying loyal customers, high-value clients, and potential upsell/cross-sell opportunities.
Usage Patterns: For subscription services or software, how actively and deeply a customer uses the product can indicate their engagement level and potential for churn or expansion.