customer analytics

Introduction In this post, I will summarize the common statistical methods to describe and predict customers’ purchase behavior in non-contractual settings. It fits probabilistic models to historical transaction records for computing customer-centric metrics of managerial interest.

Introduction In this post, we’ll continue discover the difference between the Cohort Modeling and the Extended PNBD Model with time-invariant covariates. Check here to see the previous post. Data Prepare First let’s import the transactional data, and select the customers who first purchase happened in 2017-2018.

Introducton The original Pareto-NBD Model is awesome, but it does not allow us to add any covariates. In some cases, the covariates may affect the purchase, or the attrition process, or both.

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