- Case Study
- Using Data To Predict Revenue and Optimize Promotional Spend
- Our client, a Fortune 500 entertainment company wanted to predict how much revenue an album will bring in, within the first week of its launch, so that they could plan their marketing spend.
- LatentView team initially, studied the way music is consumed in a digital world.
- Moved beyond transactional data to include streaming data, comments on social media, reviews, engagement etc.
- By including consumer behavior indicators, we were able to increase the accuracy of the forecast model from 60% to 90% accuracy
- This helped the company make decisions on whether to boost promotional and inventory spends or cut them, thereby increasing profits