Accuracy of noncomplex customer lifetime value models in the medical service context

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dc.contributor Aalto-yliopisto fi
dc.contributor Aalto University en
dc.contributor.author Harju, Tuomas
dc.date.accessioned 2015-11-04T13:21:04Z
dc.date.available 2015-11-04T13:21:04Z
dc.date.issued 2015
dc.identifier.uri https://aaltodoc.aalto.fi/handle/123456789/18304
dc.description.abstract Objectives: The accurate valuation of a customer relationship remains a challenge that researchers and companies alike are struggling to solve. The objective of this study was to assess the accuracy of noncomplex and deterministic customer lifetime value (CLV) assessment models in a semi-contractual service business context. Methodology: The data set encompassed four years of longitudinal behavioral data from 150 customers of the case company. Six noncomplex CLV models were selected and used to (1) predict the CLV's of individual customers, (2) to sort the customers into four equally sized segments based on the rank order of their predicted CLV, and (3) to predict the combined CLV of the customer base. The predictive performance of the models was evaluated by comparing the predicted CLV's with the actual values calculated from a holdout sample. Findings: Four models were found to be quite inaccurate and the remaining two models very inaccurate at predicting the CLV of individual customers. Four models were found to be somewhat accurate in sorting the customer base into four segments and more accurate in predicting the top 25% of customers. One model was also especially accurate in predicting the combined value of the customers and can thus be utilized in the business context of the case company for customer base valuation purposes. en
dc.format.extent 76
dc.format.mimetype application/pdf en
dc.language.iso en en
dc.title Accuracy of noncomplex customer lifetime value models in the medical service context en
dc.type G2 Pro gradu, diplomityö fi
dc.contributor.school Kauppakorkeakoulu fi
dc.contributor.school School of Business en
dc.contributor.department Markkinoinnin laitos fi
dc.contributor.department Department of Marketing en
dc.subject.keyword customer lifetime value
dc.subject.keyword CLV
dc.subject.keyword customer valuation
dc.subject.keyword relationship marketing
dc.subject.keyword customer segmentation
dc.identifier.urn URN:NBN:fi:aalto-201511054875
dc.type.dcmitype text en
dc.programme.major Marketing en
dc.programme.major Markkinointi fi
dc.type.ontasot Master's thesis en
dc.type.ontasot Pro gradu tutkielma fi
dc.subject.helecon markkinointi
dc.subject.helecon marketing
dc.subject.helecon suhdemarkkinointi
dc.subject.helecon relationship marketing
dc.subject.helecon kuluttajakäyttäytyminen
dc.subject.helecon consumer behaviour
dc.subject.helecon kohderyhmät
dc.subject.helecon target groups
dc.subject.helecon elinkaari
dc.subject.helecon life cycle
dc.subject.helecon mallit
dc.subject.helecon models
dc.subject.helecon palvelut
dc.subject.helecon service
dc.subject.helecon terveydenhuolto
dc.subject.helecon health services
dc.subject.helecon terveystalous
dc.subject.helecon health economics
dc.ethesisid 13978
dc.date.dateaccepted 2015-06-09
dc.location P1 I


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