Using cohort analysis to improve retention

There are few issues more important than customer retention when running software-as-a-service businesses, as acquiring customers for a certain period is less valuable if they only stick around for a short time. Retention can be measured both qualitatively and quantitatively, with cohort analysis being a technique used to quantify it by analyzing groups with different starting conditions. Cohort analysis allows for the visualization of retention data over time, enabling businesses to identify trends, patterns, and areas where customers are lost, which is crucial in making informed decisions about how to improve retention. By using cycle plots, which group data points together to show both micro and macro trends, businesses can gain a deeper understanding of their customer retention rates and make data-driven decisions to increase retention.

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