What is lift in SAP CRM-ANA - CRM Analytics?

SAP Term: lift

• Component: CRM-ANA

• Component Name: CRM Analytics

• Description: A key figure attached to a product association rule, which describes the measure of strength of an effect. It measures the difference between the confidence of a rule and the expected confidence. It is the ratio between the confidence and the support of the dependent items expected confidence. Given a rule containing one leading product "A" and one dependent product 'A' and one dependent product 'B', Lift = Confidence A / Support B.

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• Key Concepts: 
  Lift is a term used in CRM Analytics to measure the effectiveness of a marketing campaign. It is calculated by comparing the performance of a group that was exposed to the campaign (the “test” group) to the performance of a similar group that was not exposed to the campaign (the “control” group). The lift is the difference between the two groups, expressed as a percentage. 
  
  How to use it: 
  To calculate lift, you need to first define your test and control groups. The test group should be exposed to the marketing campaign, while the control group should not be exposed. Then, you need to measure the performance of both groups. This can be done by tracking metrics such as sales, website visits, or customer engagement. Finally, you can calculate the lift by subtracting the performance of the control group from the performance of the test group and expressing it as a percentage. 
  
  Tips & Tricks: 
  When defining your test and control groups, make sure that they are similar in terms of demographics and other characteristics. This will ensure that any differences in performance are due to the marketing campaign and not other factors. Additionally, make sure to track metrics that are relevant to your business goals. This will help you get an accurate picture of how effective your marketing campaign is. 
  
  Related Information: 
  Lift is just one metric used in CRM Analytics. Other metrics include conversion rate, customer lifetime value, and customer segmentation. Additionally, there are many tools available for measuring and analyzing CRM data, such as SAP Hybris Marketing and SAP Cloud for Customer.