AI Use Case

Model and predict customer lifetime value

Determine the likely lifetime value of customers to allow better customer management and engagement to increase revenues. It will allow a firm to better target its marketing resources to ensure that customer acquisition costs are managed appropriately by relevant segment.

Function

Marketing

Customer Management

Benefits

Operational Support - Sales forecasting,Operational Support - Demand forecasting,Operational Support - Production forecasting

Case Studies

ASOS.com~ASOS.com researchers demonstrate improved customer lifetime value predictions using neural networks and automatic feature selection but do not advise implementation due to increased cost

Industry

Data Sets

Structured / Semi-structured

AI Technologies

Machine Learning (ML),Model Architecture - Deep Neural Networks,Algorithm - Embedding,Model Architecture - Recurrent Neural Network (RNN),Model - Unsupervised Learning,Algorithm - Random Forest

Potential Vendors