Using Product Adoption Data to Drive Business Strategy
Program: Data Science Master's Degree
Location: Milwaukee, Wisconsin (remote)
Student: Marie Flamingo
The expectation for an exceptional, personalized customer experience has grown across all industries. To stay competitive, companies must meet the rising expectations of their customers. Creating a personalized experience begins with understanding customers’ behavior characteristics as they purchase new products. Everett Rogers (1962) established a framework for understanding the adoption of new products in his seminal book Diffusion of Innovations. This paper uses Rogers’ widely accepted framework to examine the adoption of an innovative technology product in the insurance industry. Historical product adoption trends are analyzed to provide the insight necessary to drive consistent, personalized customer interactions.