Using Simulation to Model Customer Behavior in the Context of Customer Lifetime Value Estimation
نویسندگان
چکیده
منابع مشابه
Using Simulation to Model Customer Behavior in the Context of Customer Lifetime Value Estimation
T article illustrates how simulation can be used in the classroom for modeling customer behavior in the context of customer lifetime value estimation. Operations research instructors could use this exercise to introduce multiperiod spreadsheet simulation models in a business setting that is of great importance in practice, and the simulation approach to teaching this subject could be of interes...
متن کاملCustomer lifetime value model in an online toy store
Business all around the world uses different approaches to know their customers, segment them and formulate suitable strategies for them. One of these approaches is calculating the value of each customer for the company. In this paper by calculating Customer Lifetime Value (CLV) for individual customers of an online toy store named Alakdolak, three customer segments are extracted. The level of ...
متن کاملModeling customer loyalty using customer lifetime value b
The definition and modeling of customer loyalty have been central issues in customer relationship management since many years. Recent papers propose solutions to detect customers that are becoming less loyal, also called churners. The churner status is then defined as a function of the volume of commercial transactions. In the context of a Belgian retail financial service company, our first con...
متن کاملCustomer Lifetime Network Value
Today, people are increasingly connected and extensively interact with each other using technology-enabled media. Hence, customers are more frequently exposed to social influence of other customers when making purchase decisions. However, established approaches for customer valuation most widely neglect network effects based on social influence leading to a misallocation of resources. Therefore...
متن کاملMeasuring Customer Lifetime Value
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...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: INFORMS Transactions on Education
سال: 2008
ISSN: 1532-0545,1532-0545
DOI: 10.1287/ited.1080.0014