NDLI: E-CLV: A Modeling Approach for Customer Lifetime Evaluation in e-Commerce Domains, with an Application and Case Study for Online Auction

Content Provider	Springer Nature Link
Author	Etzion, Opher Fisher, Amit Wasserkrug, Segev
Copyright Year	2005
Abstract	e-Commerce companies acknowledge that customers are their most important asset and that it is imperative to estimate the potential value of this asset.In conventional marketing, one of the widely accepted methods for evaluating customer value uses models known as Customer Lifetime Value (CLV). However, these existing models suffer from two major shortcomings: They either do not take into account significant attributes of customer behavior unique to e-Commerce, or they do not provide a method for generating specific models from the large body of relevant historical data that can be easily collected in e-Commerce sites.This paper describes a general modeling approach, based on Markov Chain Models, for calculating customer value in the e-Commerce domain. This approach extends existing CLV models, by taking into account a new set of variables required for evaluating customers value in an e-Commerce environment. In addition, we describe how data-mining algorithms can aid in deriving such a model, thereby taking advantage of the historical customer data available in such environments. We then present an application of this modeling approach—the creation of a model for online auctions—one of the fastest-growing and most lucrative types of e-Commerce. The article also describes a case study, which demonstrates how our model provides more accurate predictions than existing conventional CLV models regarding the future income generated by customers.
Starting Page	421
Ending Page	434
Page Count	14
File Format	PDF
ISSN	13873326
Journal	Information Systems Frontiers
Volume Number	7
Issue Number	4-5
e-ISSN	15729419
Language	English
Publisher	Kluwer Academic Publishers
Publisher Date	2005-01-01
Publisher Place	Boston
Access Restriction	One Nation One Subscription (ONOS)
Subject Keyword	Management of Computing and Information Systems Systems Theory, Control Operations Research/Decision Theory Business Information Systems
Content Type	Text
Resource Type	Article
Subject	Theoretical Computer Science Computer Networks and Communications Information Systems Software

Sl.	Authority	Responsibilities	Communication Details
1	Ministry of Education (GoI), Department of Higher Education	Sanctioning Authority	https://www.education.gov.in/ict-initiatives
2	Indian Institute of Technology Kharagpur	Host Institute of the Project: The host institute of the project is responsible for providing infrastructure support and hosting the project	https://www.iitkgp.ac.in
3	National Digital Library of India Office, Indian Institute of Technology Kharagpur	The administrative and infrastructural headquarters of the project	Dr. B. Sutradhar bsutra@ndl.gov.in
4	Project PI / Joint PI	Principal Investigator and Joint Principal Investigators of the project	Dr. B. Sutradhar bsutra@ndl.gov.in Prof. Saswat Chakrabarti will be added soon
5	Website/Portal (Helpdesk)	Queries regarding NDLI and its services	support@ndl.gov.in
6	Contents and Copyright Issues	Queries related to content curation and copyright issues	content@ndl.gov.in
7	National Digital Library of India Club (NDLI Club)	Queries related to NDLI Club formation, support, user awareness program, seminar/symposium, collaboration, social media, promotion, and outreach	clubsupport@ndl.gov.in
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9	IDR Setup or Support	Queries related to establishment and support of Institutional Digital Repository (IDR) and IDR workshops	idr@ndl.gov.in

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