PREDICTING CUSTOMER LIFETIME VALUE FOR HYPERMARKET PRIVATE LABEL PRODUCTS
نویسندگان
چکیده
منابع مشابه
A modified Pareto/NBD approach for predicting customer lifetime value
Valuing customers is a central issue for any commercial activity. The customer lifetime value (CLV) is the discounted value of the future profits that this customer yields to the company. In order to compute the CLV, one needs to predict the future number of transactions a customer will make and the profit of these transactions. With the Pareto/NBD model, the future number of transactions of a ...
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Abstract Customer Lifetime Value (CLV) is known as an important concept in marketing and management of organizations to increase the captured profitability. Total value that a customer produces during his/her lifetime is named customer lifetime value. The generated value can be calculated through different methods. Each method considers different parameters. Due to the industry, firm, business...
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Being able to measure customer value is a prerequisite for effective customer relationship management and data-driven marketing strategy, as it allows to maximize return on marketing investment, particularly when resources are limited. While past profitability is certainly a useful metric, it is insufficient when trying to predict which customers are going to be most valuable in the future so a...
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Customer lifetime value (LTV) estimation involves two parts: the “survival” probabilities and profit margins. This article describes the estimation of those probabilities using discrete-time logistic hazard models and that of profit margins is based on linear regression. In the scenario when outliers are present among margins, we suggest applying robust regression with PROC ROBUSTREG.
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ژورنال
عنوان ژورنال: Journal of Business Economics and Management
سال: 2017
ISSN: 1611-1699,2029-4433
DOI: 10.3846/16111699.2017.1308879