Modeling Customer Lifetime Value Using Survival Analysis - An Application in the Telecommunications Industry
[ Source: SAS Institute ]
January 2008-
This white paper presents an application to model customer lifetime value, the net presents value of customers calculated profit over a certain number of months, using survival analysis techniques. Customer lifetime value is a powerful and straightforward measure that synthesizes customer profitability and churns risk at individual customer level. For existing customers, customer lifetime value helps companies develop customer loyalty and treatment strategies to maximize customer value. For newly acquired customers, customer lifetime value helps ....
Multistage Cross-Sell Model of Employers in the Financial Industry
[ Source: SAS Institute ]
January 2008-
In the Financial Services industry, the cross-selling and retaining of customers have become very important issues. These issues have been addressed via the development of many predictive models. These models have been designed to identify customers having a high likelihood of purchasing multiple products. However, the vast majority of these models have been done at the business-to-consumer level. The independent variables for these models have generally included transactional data: transaction frequency, amount of transaction and ....
Risk Management In The BPM Lifecycle
[ Source: Stevens Institute of Technology ]
January 2008-
Business Process Management (BPM) is considered an essential strategy to create and maintain sustainable competitive advantage. While researchers are anxious to identify critical success factors for the management of business process related projects, the risks associated with these projects have received considerably less attention. This paper provides an overview of risks associated with BPM projects along the phases of the BPM lifecycle. After a classification of the risks identified with the individual life cycle phases ....
Approaching Risk Management As A Business Process
[ Source: Internet Security Systems ]
January 2008-
The continued rise of new technologies and systems being introduced to the workplace on a daily basis results in a broad spectrum of risk for businesses. Businesses must also consider the risks posed to their operations from legacy systems, established business processes, partner supply chains and existing applications. To date, the information security industry has contributed to this problem with new point security solutions to address specific risks to distinct network assets. Unfortunately, the rate ....
Approaches To Sales Forecasting - A Review
[ Source: Data Perceptions ]
January 2008-
Virtually every manufacturing or service company needs to generate forecasts of their short to medium term sales. Being able to forecast demand more accurately has major commercial advantages, whether the forecast is used to plan purchasing, production and inventory, as the basis of marketing or sales planning and for financial planning and reporting or budgeting. The essence of judgmental forecasting is the application of the business manager’s knowledge and interpretation of past events and activities ....
Is Your Forecast Too Sunny? How To Improve The Accuracy Of Sales Forecasts
[ Source: Articles Archive ]
January 2008-
Accurate forecasting is vital for any business. Inaccurate forecasting carries all sorts of hazards. Whether there is a tendency to be too optimistic and sunny with forecasts or too downbeat and understating it, there are potential problems for the business. Basic systems such as ACT, Goldmine or SalesLogix will allow sales people to develop customer records, keep everything related to the customer in one place and manage their diaries. There are ways to use all ....
Retail Sales Forecast
[ Source: Stock-Market-Investors.com ]
January 2008-
Consumer spending constitutes a big portion of the economy. Retail sales is watched since they provide an important indication of the future state of the economy. The retail sales index is released every 12th of the month by the Census Bureau. It provides estimations about the retail sales of the month that has passed. The information on the retail sales is gathered from different in size and location stores. The retail sales index represents an ....
Best Practices for Managing Predictive Models in a Production Environment
[ Source: SAS Institute ]
January 2008-
The widespread use of predictive analytics has enabled organizations to more accurately predict their business outcomes, improve business performance, and increase profitability. As the sheer number of these models in the overall portfolio is coupled with growing requirements to demonstrate external compliance, it is imperative that the organization implements sound model management practices. Model management is not a one-time activity but an essential business process. This paper from SAS Institute presents SAS-based strategies for effectively ....
Three Methods Of Sales Forecasting
[ Source: State of Florida ]
January 2008-
Sales forecasting is difficult when one does not have any previous sales history to guide as is the case when one is working on preparing cash flow projections as part of writing a business plan. Three methods to estimate sales revenues for the purposes of sales forecasting is to consider the average sales volume per square foot for similar stores in similar locations and size, number of households needing goods and living within a ....
Understanding And Developing Your Sales Force
[ Source: Canada Business ]
January 2008-
This paper explains how an individual and his employees can get trained to become creative sales people. Effective selling does not happen by accident. The small entrepreneur must work to achieve a high level of sales effectiveness in his or her business. In order to work toward this goal, the businessperson should be aware of the different types of salespersons, the selling process and the attributes of effective salespersons. Applying such knowledge to a business ....