Amway
Building a Better Business: Identifying the key factors that lead to higher customer attraction, engagement, and retention
Background:
Each individual who joins Amway to start their own business may have many reasons that motivated them to take this step, but some of the common ones are flexibility and creativity. Each person can build their business however they want, and some of them do extremely well. By mining this data, we can look for commonalities among these successful business owners and in turn use this information to help motivate and support future Amway entrepreneurs. People are complex and trying to understand what motivates a person to purchase one product over the other is a difficult problem, but by looking at thousands of businesses across multiple markets, we may be able to identify certain products, tools or behaviors that are more successful at helping new business owners.
Project Scope:
The goal of this project will be to identify the keys drivers contributing to a business owners success, which is defined as attracting new customers and increasing engagement and retention of their customer base. Datasets will be aggregated and anonymized from the US market for 2019 and 2020 at a monthly level for each business owner. Randomized subsets of data will be used to help with speed, cleaning and development.
Deliverables:
- Project Presentation – A presentation to be given at the end of the semester detailing the findings and suggested next steps.
- Project Documentation – A detailed word document walking through the software used, how the data was cleaned and analyzed, and any assumptions made.
- Project Code – Well documented code that was used on the project.
Additional Questions:
- Can we build a model to predict likelihood of ABO becoming successful?
- Can we develop a model to predict if an ABO will become INACTIVE (leave Amway)?
- Once an ABO becomes INACTIVE can we predict if they will become (ACTIVE)
- Are their groups of similar ABOs within each group (Active/Inactive)?
