Predicting customer potential value an application in the insurance industry

Authors
Verhoef, PC Donkers, B
Citation
Pc. Verhoef et B. Donkers, Predicting customer potential value an application in the insurance industry, DECIS SUP S, 32(2), 2001, pp. 189-199
Citations number
22
Categorie Soggetti
AI Robotics and Automatic Control
Journal title
DECISION SUPPORT SYSTEMS
ISSN journal
01679236 → ACNP
Volume
32
Issue
2
Year of publication
2001
Pages
189 - 199
Database
ISI
SICI code
0167-9236(200112)32:2<189:PCPVAA>2.0.ZU;2-9
Abstract
For effective Customer Relationship Management (CRM), it is essential to ha ve information on the potential value of customers. Based on the interplay between potential value and realized value, managers can devise customer sp ecific strategies. In this article, we introduce a model for predicting the potential value of a current customer. Furthermore, we discuss and apply d ifferent modeling strategies for predicting this potential value. (C) 2001 Elsevier Science BY. All rights reserved.