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Probability Models for Customer-Base Analysis

WU Vienna University of Economics and Business
May 17-18, 2017

Instructors: Peter Fader & Bruce Hardie

AGENDA

The workshop will take place in the premises of WU's Executive Academy. Room EA.6.026

Day 1 | Wednesday May 17

TimeContent covered Location
08:00 - 09:00Welcome BreakfastLibrary Cafe
09:00 - 10:30Session 1We start by presenting two motivating customer-base analysis problems and identify the limitations of standard classroom solutions to these problems. We identify the specific information needs of the analyst faced with these problems, which sets the agenda for the workshop. We then turn our attention to the development of a model for projecting customer retention in contractual settings, introducing the idea of a probability model of customer behaviour.EA.6.026
Coffee Break
10:45 - 12:15Session 2 We validate our model for the duration of customer relationships in contractual settings and start exploring how it can be used as the basis for computing customer lifetime value (CLV) in contractual settings.EA.6.026
Lunch L'Osteria
13:30 - 15:00Session 3We continue our examination of CLV, looking at how to compute the distribution of CLV and how to make statements about the distribution of the projected future value of a group of customers in contractual settings.EA.6.026
Coffee Break
15:15 - 17:15Session 4We finish our examination of customer value in contractual settings and consider extensions to the basic model considered in the first three sessions. EA.6.026
17:15 - 17:30Wrap-up Summarizing Day 1EA.6.026
18:00DinnerDas Campus

 

Day 2 | Thursday May 18

TimeContent coveredLocation
09:00 - 10:30Session 1Having solved the first motivating problem on day 1, we turn our attention to the second motivating problem. We develop a probability model for the flow of customer transactions in noncontractual settings. EA.6.026
Coffee Break
10:45 - 12:15Session 2 We validate our model for the flow of customer transactions in noncontractual settings and use it to answer the management questions associated with the second motivating problem. EA.6.026
LunchL'Osteria
13:30 - 15:00Session 3 We review other common probability models for the flow of transactions in noncontractual settings.EA.6.026
Coffee Break
15:15 - 17:15Session 4We explore extensions to the basic models for customer-base analysis in noncontractual settings.EA.6.026
Coffee Break
17:30 - 18:00Program closeFinal Q & A / discussion to wrap up the program.EA.6.026
20:00Post-Workshop
"Heuriger"		Fuhrgassl Huber