What is Cohort Analysis?
Cohort Analysis is a method of grouping and analyzing data based on specific characteristics shared by a set of individuals. These characteristics could include the time of acquisition, geographic location, or any other defining attribute. This method is widely used in various fields, including business, marketing, and healthcare.
What is Cohort Analysis and How does It Works?
In Data analytics, extracting actionable insights is crucial for informed decision-making. Cohort Analysis stands as a powerful tool in this realm, providing a nuanced understanding of user behavior over time.
This article aims to demystify Cohort Analysis, elucidating its significance and demonstrating how it effectively groups data by specific characteristics.
Table of Content
- What is Cohort Analysis?
- Why use Cohort Analysis?
- When to Use Cohort Analysis
- Types of Cohort Analysis
- How does cohort analysis work?
- Importance of Cohort Analysis
- Steps to Conduct Cohort Analysis
- 1. Define Goals and Questions
- 2. Choose Cohort Definition
- 3. Identify Relevant Metrics
- 4. Gather Your Data
- 5. Analyze the Cohorts
- 6. Take Action
- Examples of Cohort Analysis
- Python Implementation – Cohort Analysis
- Benefits of Cohort Analysis
- Challenges in Cohort Analysis
- Cohort Analysis- FAQs