Dynamic Choice Model

A Hidden Markov Model of Customer Relationship Dynamics: DSA ADS Course - 2023

DSA ADS Course - 2023

Discuss enabling marketers to dynamically segment their customer base and to examine methods by which the firm can alter long-term buying behavior.

Discuss dynamics of customer relationships using typical transaction data.

The proposed method/model permits not only capturing the dynamics of customer relationships, but also incorporating the effect of the sequence of customer-firm encounters on the dynamics of customer relationships and the subsequent buying behavior.