Create customer value classes - Python Tutorial

- [Instructor] One of the most early, and basic customer management processes, is to classify your customers into various buckets, like bronze and gold, based on their past business and perceived future business. It then helps the business to target them differentially. When a newer, potential customer is identify, classifying him or her, as early as possible in the business cycle, helps a business to focus more resources on those customer with significant future value. Given Roger's demographics, he might qualify as a gold customer, since he would buy premium electronics for him and his growing family. Jessica on the other hand, might be budget focused and might not spend a lot on electronics in the next five years. She would be your bronze customer, given that, you want to focus your marketing resources on Roger, to generate most bang for the buck. The goal of this use case, is to build a prediction model, that can…