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Open Access Journal Article

Customer Lifetime Value Modeling Using Machine Learning

by Emma Jackson 1,*
1
Emma Jackson
*
Author to whom correspondence should be addressed.
MAD  2020 2(1):6; https://doi.org/10.69610/j.mad.20200212
Received: 8 January 2020 / Accepted: 17 January 2019 / Published Online: 12 February 2020
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Abstract

This paper explores the application of machine learning techniques in modeling customer lifetime value (CLV) within the context of modern business practices. The study aims to provide a comprehensive overview of the methodologies and algorithms that can be utilized to predict the long-term value of customers to a company. By integrating historical data, customer behaviors, and market trends, the proposed model leverages advanced machine learning algorithms to forecast CLV more accurately. The paper discusses the challenges and opportunities in implementing such models, including the need for quality data, algorithm selection, and ethical considerations. The results indicate that the integration of machine learning methods in CLV modeling can lead to improved customer relationship management, strategic decision-making, and increased profitability for businesses.

Keywords: Customer Lifetime Value; Machine Learning; Predictive Modeling; Customer Relationship Management; Strategic Decision-Making.;
Copyright: © 2020 by Jackson. This is an open-access article distributed under the terms of the Creative Commons Attribution License (CC BY) (Creative Commons Attribution 4.0 International License). The use, distribution or reproduction in other forums is permitted, provided the original author(s) or licensor are credited and that the original publication in this journal is cited, in accordance with accepted academic practice. No use, distribution or reproduction is permitted which does not comply with these terms.
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APA Style
Jackson, E. (2020). Customer Lifetime Value Modeling Using Machine Learning. Management Analytics and Decision, 2(1), 6. doi:10.69610/j.mad.20200212
ACS Style
Jackson, E. Customer Lifetime Value Modeling Using Machine Learning. Management Analytics and Decision, 2020, 2, 6. doi:10.69610/j.mad.20200212
AMA Style
Jackson E. Customer Lifetime Value Modeling Using Machine Learning. Management Analytics and Decision; 2020, 2(1):6. doi:10.69610/j.mad.20200212
Chicago/Turabian Style
Jackson, Emma 2020. "Customer Lifetime Value Modeling Using Machine Learning" Management Analytics and Decision 2, no.1:6. doi:10.69610/j.mad.20200212

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ACS Style
Jackson, E. Customer Lifetime Value Modeling Using Machine Learning. Management Analytics and Decision, 2020, 2, 6. doi:10.69610/j.mad.20200212
AMA Style
Jackson E. Customer Lifetime Value Modeling Using Machine Learning. Management Analytics and Decision; 2020, 2(1):6. doi:10.69610/j.mad.20200212
Chicago/Turabian Style
Jackson, Emma 2020. "Customer Lifetime Value Modeling Using Machine Learning" Management Analytics and Decision 2, no.1:6. doi:10.69610/j.mad.20200212
APA style
Jackson, E. (2020). Customer Lifetime Value Modeling Using Machine Learning. Management Analytics and Decision, 2(1), 6. doi:10.69610/j.mad.20200212

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