Scoring Model Excel Template
Originally published: 17/04/2018 12:49
Publication number: ELQ-29679-1
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Scoring Model Excel Template

This tool can be used to define the priority of action regarding products, employees, customers, etc.

Based on the score they obtain, scoring models help you to decide what elements to prioritize in your business. E.g. a scoring model can be created to prevent employees from leaving the company. This works by creating a score that depends on both the performance of the employee and the probability of them leaving. The aim is to act first on the employees identified that have a high performance but also a high probability of leaving. Scoring models can also be very useful when it comes to marketing. E.g. customers can be scored based on the probability of them responding positively a marketing phone call. Based on the company's resources, you can then decide to call only the first X customers.

This particular model proposes scoring customer's value based on how likely they are to purchase a product and how much money they are likely to spend. This is the result of 2 sub-models:

-Purchase probability: A logistic regression is used to estimate the purchase probability of a client in the next period.

-Amount: A linear regression is used to estimate the amount of money that a client could potentially spend on his/her next purchase.

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