Customer Relationship Management: Lifecycle of Predicting Customer Lifetime Value

Abstract

In more recent years, customer lifetime value(CLV) has been a popular research topic in the field of customer relationship management. Many models, methods and approaches have been used to predict CLV. However, there are no readily available integrated guidelines for its prediction. This paper proposes an iterative approach for predicting CLV, which highlights the common causes of success and failure in terms of business performance management. An initial computer-assisted template is proposed for CLV prediction and related research.