Buy Till you Die
The Buy Till You Die (BTYD) class of statistical models are designed to capture the behavioral characteristics of non-contractual customers, or when the company is not able to directly observe when a customer stops being a customer of a brand. The goal is typically to model and forecast customer lifetime value. BTYD models all jointly model two processes: (1) a repeat purchase process, that explains how frequently customers make purchases while they are still "alive"; and (2) a dropout process, which models how likely a customer is to churn in any given time period.
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Buy Till you Die
The Buy Till You Die (BTYD) class of statistical models are designed to capture the behavioral characteristics of non-contractual customers, or when the company is not able to directly observe when a customer stops being a customer of a brand. The goal is typically to model and forecast customer lifetime value. BTYD models all jointly model two processes: (1) a repeat purchase process, that explains how frequently customers make purchases while they are still "alive"; and (2) a dropout process, which models how likely a customer is to churn in any given time period.
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The Buy Till You Die (BTYD) cl ...... ustomers who are still active.
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The Buy Till You Die (BTYD) cl ...... hurn in any given time period.
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Buy Till you Die
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