In the world of mobile applications, the ability to predict a customer’s lifetime value (LTV) is akin to finding the Holy Grail of mobile analytics. Imagine if you knew how much your customers were going to spend in your app over their entire lifetime. It’d be an incredible business advantage, one with uses beyond just being able to accurately forecast your revenue for investors.
At a basic level, cohort analysis is a type of segmentation. The difference is that it’s based on a common characteristic or experience shared by a group of customers within a defined period of time.
Build or buy? For many, the decision to go in-house or to an outside data analytics provider boils down to simple economics: is it cheaper to build from scratch or buy a platform? A lot of companies opt for the former. After all, any respectable mobile developer already has a team of engineers. Grabbing a few to create a data analytics solution shouldn’t be that hard, right?