Using Probabilistic Models to Predict Customer Lifetime Value
In this webinar, Data Scientist Harry Papadimitriou demonstrates how to use Pareto/NBD and gamma-gamma models to predict the number and value of future customer purchases.
In a nutshell, customer lifetime value (CLV) is the total profit your business realizes from the entirely of its relationship with a customer. Being able to accurately estimate this metric allows you to balance the cost of attracting a customer with the profit he or she will generate for your business, as well as identify the common traits associated with your most profitable customers.
Intended for data science practitioners, this webinar takes a deep dive into building probabilistic models to predict the number and value of purchases a customer will make well into the future. Want access to more seminars like this one? DataScience.com customers receive monthly hands-on training with our platform. Request a demo today.