Prediction of Customer Lifetime Value Using Machine Learning

The idea of viewing customers as resources that ought to be overseen and whose worth ought to be estimated is currently acknowledged and perceived by scholastics and professionals. This attention to client relationship management makes it critical to comprehend customer lifetime value (CLV) in light of the fact that CLV models are a productive and viable approach to assess an association's relationship with its clients. Appraisal of CLV is particularly significant for firms in executing client situated administrations. In this paper, we give a basic audit of the writing on the advancement cycle and uses of CLV and also discussed the predictions of the CLV. The performance of the system is evaluated using mean absolute error (MAE). The system has obtained the customer lifetime value with the mean absolute error of 1.23%.