0000000001331400
AUTHOR
Lasse Luoma
Survey data and Bayesian analysis: a cost-efficient way to estimate customer equity
We present a Bayesian framework for estimating the customer lifetime value (CLV) and the customer equity (CE) based on the purchasing behavior deducible from the market surveys on customer purchasing behavior. The proposed framework systematically addresses the challenges faced when the future value of customers is estimated based on survey data. The scarcity of the survey data and the sampling variance are countered by utilizing the prior information and quantifying the uncertainty of the CE and CLV estimates by posterior distributions. Furthermore, information on the purchase behavior of the customers of competitors available in the survey data is integrated to the framework. The introduc…
Survey on mobile phone purchases, February 2013
The mobile phone data were collected in February 2013 together with the National Consumer Net Shopping Study conducted by market research company Tietoykkönen Oy. The target group was 15--79 years old mobile phone owners in Finland. The data collection method was telephone interviews by using a computer-assisted telephone interviewing (CATI) system. The sample source was targeting service Fonecta Finder B2C, which contains all publicly available phone numbers in Finland. Random sampling was made by setting quotas in respondents’ gender, age and region in the major region level excluding Åland autonomic region. The sample size was 536 completed interviews. All 536 survey respondents had a mo…