Prediction of Customer Lifetime Value Using Machine Learning

Reddy, Kandula Balagangadhar; Swain, Debabrata; Shukla, Samiksha; Jacob, Lija

doi:10.1007/978-981-16-3346-1_22

Cited by 1 publication

(1 citation statement)

References 19 publications

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“…Research also suggests that the 10 to 20 percent of the customers who are the least profitable, can actually reduce profits (Burton & Holden, 2010). A company breaks even with the middle 60 to 70 percent Shukla, & Jacob, 2022). A key driver of shareholder value is the aggregate value of the customer base.…”

Section: Introductionmentioning

confidence: 99%

Management of Customer Lifetime Value in Organizations

Mandal

2023

Journal of Business Ecosystems

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Companies should focus on customer lifetime value, its management, and on profitable customers for company growth. The objective of the study is to analyze customer lifetime value and to manage it effectively. The methodology adopted is a conceptual analysis of various aspects of customer lifetime value and its management. Companies should appreciate the importance of customer lifetime value and the connections among customer lifetime value, brand equity, and customer equity. They should develop and build customer lifetime value through various measures (viz., improvement in customer services, customer engagement, enhancing the growth potential of customers, management of unprofitable customers, rewarding profitable customers, and developing customer touch points). They should develop customer loyalty through trust and measure customer lifetime value. Academicians may suggest models that are effective in measuring customer lifetime value and identifying profitable customers. Managers may suggest effective strategies and initiatives for better management of customer lifetime value.

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Section: Introductionmentioning

confidence: 99%

Management of Customer Lifetime Value in Organizations

Mandal

2023

Journal of Business Ecosystems

View full text Add to dashboard Cite

show abstract

Prediction of Customer Lifetime Value Using Machine Learning

Cited by 1 publication

References 19 publications

Management of Customer Lifetime Value in Organizations

Management of Customer Lifetime Value in Organizations

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