Profitable Retail Customer Identification Based on a Combined Prediction Strategy of Customer Lifetime Value
نویسندگان
چکیده
منابع مشابه
CUSTOMER CLUSTERING BASED ON FACTORS OF CUSTOMER LIFETIME VALUE WITH DATA MINING TECHNIQUE
Organizations have used Customer Lifetime Value (CLV) as an appropriate pattern to classify their customers. Data mining techniques have enabled organizations to analyze their customers’ behaviors more quantitatively. This research has been carried out to cluster customers based on factors of CLV model including length, recency, frequency, and monetary (LRFM) through data mining. Based on LRFM,...
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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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ژورنال
عنوان ژورنال: Midwest Social Sciences Journal
سال: 2021
ISSN: 2766-0796
DOI: 10.22543/0796.241.1053