Implementing a Customer Life Time Value Framework in SAS®
نویسنده
چکیده
In this paper we focus on the analytics of implementing CLTV in SAS®. We describe the different analytics steps needed to implement the CLTV framework, appropriate SAS procedures and some pitfalls to avoid. We first layout the data requirements and analytics framework for putting together a CLTV measure, and then discuss the different components in greater details. Two key components of the measure are (a) an estimation of the life time of the customer and (b) their projected revenue for each of the time periods over their lifetime. These are combined to then obtain the lifetime value.
منابع مشابه
123-2008: Employing SAS® Text Miner Methodology to Become a Customer Genius in Customer Churn Prediction and Complaint E-mail Management
Nowadays due to ever increasing internet penetration rate, people are sending more and more emails to companies as a substitute for traditional communication channels like telephone calls or letters. This highly unstructured information contains a lot of valuable information for marketing analysts. However, this textual information is often neglected because no in-house knowledge or ready-to-us...
متن کاملImproving SAS Customer Intelligence Solution Performance with Oracle SPARC SuperCluster
SAS Marketing Automation enables organizations to rapidly create, modify and execute marketing campaigns, getting them quickly out the door in an automated, traceable and repeatable manner. As such, the system running your SAS Marketing Automation can have a significant impact on getting the maximum value of your software investment, so the deployment strategy is a critical consideration. Getti...
متن کاملA New Model to Speculate CLV Based on Markov Chain Model
The present study attempts to establish a new framework to speculate customer lifetime value by a stochastic approach. In this research the customer lifetime value is considered as combination of customer’s present and future value. At first step of our desired model, it is essential to define customer groups based on their behavior similarities, and in second step a mechanism to count current ...
متن کاملA Customer Lifetime Value-Based Approach to Marketing in the Multichannel, Multimedia Retailing Environment
This paper proposes a multichannel, multimedia communications framework based on the concept of Customer Lifetime Value. The framework begins with customer information from the company's database, segments the customers based on the value they provide to the company, and advocates sending targeted messages using differentiated modes of communication. The framework also closes the communication ...
متن کاملCUSTOMER RELATIONSHIP MANAGEMENT AND ORGANISATIONAL COMPETETIVENESS OF COMMERCIAL BANKS IN CHENNAI
Commercial Banks and Financial Institutions are recognizing that they can no longer look at a customer from a specific product but must encompass the entire customer relationship to fully understand a client‘s profitability. From a strategic standpoint, Customer Relationship Management (CRM) mobilizes resources around customer relationships rather than product groups and fosters activities that...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
عنوان ژورنال:
دوره شماره
صفحات -
تاریخ انتشار 2011