Are there any links out there showing how RapidMiner calculates customer long-time value CLV?

tonyboy9

A Google search only shows how to hire RapidMiner to do an AI assessment.

Customer Lifetime Value Solution | RapidMiner

BalazsBaranyRM

Hi!

The RapidMiner Academy contains an example in the free Machine Learning Professional course.
https://academy.rapidminer.com/courses/machine-learning-professional

For CLV and similar projects, the data availability and smart processing are the most important factors. You can get really creative here. Modeling is not the big problem. 

You need to find or derive indicators in your data that allow a model to learn the factors and their strength for a higher CLV. Be careful to only include data in the model that will be available when applying the model. E. g. right after registration you might only have a few attributes: Time of day, weekday, customer country, browser, contact source. These probably don't determine the CLV enough. If you take the first order or some other behaviours later, these might make a larger difference. And so on.

Regards,
Balázs

BalazsBaranyRM

Hi!

The RapidMiner Academy contains an example in the free Machine Learning Professional course.
https://academy.rapidminer.com/courses/machine-learning-professional

For CLV and similar projects, the data availability and smart processing are the most important factors. You can get really creative here. Modeling is not the big problem. 

You need to find or derive indicators in your data that allow a model to learn the factors and their strength for a higher CLV. Be careful to only include data in the model that will be available when applying the model. E. g. right after registration you might only have a few attributes: Time of day, weekday, customer country, browser, contact source. These probably don't determine the CLV enough. If you take the first order or some other behaviours later, these might make a larger difference. And so on.

Regards,
Balázs