Scenario based customer lifetime value determination

A method and system for determining customer lifetime value (CLV) for a business is described. The method may include receiving, (302) from a user, inputs associated with a plurality of parameters. The plurality of parameters correspond to customer transactions. The method may further include determ...

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Bibliographic Details
Main Authors AIRANI, RAJEEV, BHATTACHARYA, SOUMYA NARAYAN
Format Patent
LanguageEnglish
Published 09.10.2014
Subjects
CALCULATING
COMPUTING
COUNTING
DATA PROCESSING SYSTEMS OR METHODS, SPECIALLY ADAPTED FORADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORYOR FORECASTING PURPOSES
PHYSICS
SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE,COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORY OR FORECASTINGPURPOSES, NOT OTHERWISE PROVIDED FOR
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Summary:A method and system for determining customer lifetime value (CLV) for a business is described. The method may include receiving, (302) from a user, inputs associated with a plurality of parameters. The plurality of parameters correspond to customer transactions. The method may further include determining, based on the received inputs, a CLV base model applicable for the business. The CLV base model is determined from amongst a plurality of pre-defined CLV base models. Further, the method may include identifying (310) at least one market scenario from amongst a plurality of pre-configured market scenarios for the business. Each of the plurality of pre-configured market scenarios are based on a combination of the plurality of parameters. The method may also include computing (314) a consolidated CLV for the business based on the determined CLV base model and the at least one identified CLV scenario model. P105128/8410359 300a , RECEIM-E INPUTS ASSOCIATED WITH A BUSINESS FROM A USER , WHEREIN THE INPUT |INCLUDES PROVIDING A VALUE To PARAME TERS CORRESPONDING TO CUSTOMER TRANSACTIONS DETERMINE A GROUP OF THE BUSINESS BASED ON THE VALUES PROMADED To TJHE IDENTIFY A CUSTOMER LIFETIME VALUE (CLV) BASE MODEL FOR THE DETERMINED GROUP OF BUSINESS NO ARE MARKET SCENARIOS PLICABLE FOR THE BUSINESS IDENTIFY AT LEAST ONE MARKET SCENARIo FROM AMONGST A PLURALITY OF PRE CONFIGURED SCENARIOS FOR THE BUSINESS DETE RMINE A CLV SCE NARIO MODE L FROM AMONGST A PLURALITY OF MODE Ls FOR TH E BUSINE SS COMPUTE A CONSOLIDATED CLV FOR THE BUSINESS Fig. 3a
Bibliography:Application Number: AU20140201264