Calculate Customer Lifetime Value
In the second video in our tutorial series illustrating how FastStats can answer some of the key questions you have about your customers, we demonstrate how easy-to-follow step-by-step Wizards allow you to create new variables for use in your analysis. These are called virtual variables, and can be used to summarise or aggregate existing information into new forms.
In this example, using our fictitious travel company database of over 1 million people, we’re going to calculate the lifetime value of individuals based on the sum of their previous transactions using the Aggregation Wizard.
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