Challenge
The company offering a forex trading platform for users decided to enhance its data analytics capabilities. The leadership had 2 main focuses. First, they wanted to have an algorithm that could predict user success in trading. The second focus was a user behavior analysis from the marketing team’s point of view. The company did not have a data team prior (besides the DevOps team) therefore best practices also had to established by Squery.
Solution
Analytics team first did the necessary business analysis work and assessed the company’s data needs. After the preparation phase data analysts developed a mathematical algorithm which could predict how successful a user can be. The algorithm was developed using Python and SQL and the solution used Google Cloud Platform services and Databricks. The team’s second goal was to enhance marketing capabilities with advanced customer targeting techniques and with data-driven decision preparation.
Benefits
Client can reduce the number of lost users by 10% which means a significant profit increase every month. By determining which user will perform well on the market the company can leverage that information on the market by itself as well.
