What are the different methods to calculate Customer Lifetime Value (CLV)?
An example of an AI chatbot conversation about CLV calculation methods.
What are the different methods to calculate Customer Lifetime Value (CLV)?
There are several methods to calculate CLV, including historical, predictive, and cohort analysis methods.
Can you explain the historical method in more detail?
Sure! The historical method calculates CLV based on past customer behavior, averaging the revenue generated over a specific period.
What about the predictive method?
The predictive method uses statistical models to forecast future customer behavior and revenue, often incorporating various data points.
Which method is the most accurate?
The predictive method is often considered more accurate as it accounts for future trends and customer behavior patterns.
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