foretell

Project Customer Retention based on Fader and Hardie et. al. Probability Mixture Models

Installation

You can install the stable version from CRAN.

install.packages('foretell', dependencies = TRUE)

You can install the development version from Github

# install.packages("devtools")
devtools::install_github("forecaster18/foretell")

Usage

library(foretell)


# Beta Geometric
surv_value <- c(100,86.9,74.3,65.3,59.3)
h <- 6
BG(surv_value,h)

# Beta Discrete Weibull
surv_value <- c(100,86.9,74.3,65.3,59.3)
h <- 6
BdW(surv_value,h)

# Latent Class Discrete Weibull
surv_value <- c(100,86.9,74.3,65.3,59.3,55.1,51.7,49.1,46.8,44.5,42.7,40.9,39.4)
h <- 6
LCW(surv_value,h)

References

• Fader P, Hardie B. How to project customer retention. Journal of Interactive Marketing. 2007;21(1):76-90.
• Fader P, Hardie B, Liu Y, Davin J, Steenburgh T. "How to Project Customer Retention" Revisited: The Role of Duration Dependence. Journal of Interactive Marketing. 2018;43:1-16.

License

This package is free and open source software, licensed under GPL-3.