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PyMC-Marketing: The Key to Advanced CLV(Customer Lifetime Value) Forecasting
Nov. 10, 2023, 9:18 p.m. | Hajime Takeda
Towards Data Science - Medium towardsdatascience.com
Customer Lifetime Value Prediction with PyMC-Marketing
Explore the Depths of Buy-till-You-Die (BTYD) Modeling and Practical Coding Techniques
TL; DR: The Customer Lifetime Value (CLV) model is a key technique in customer analytics which help companies identify who valuable customers are. Neglecting CLV can lead to overinvestment in short-term customers who may only make a single purchase. ‘Buy Till You Die’ modeling, which utilizes the BG/NBD and Gamma-Gamma models, can estimate CLV. Although …
bayesian-statistics customer analytics deep-dives machine learning marketing
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