PROGRAM TO CALCULATE CONSUMER VALUE USING MARKOV CHAIN BASED ON CURRENT VALUE AND FUTURE VALUE
In this era, knowledge and technology is growing rapidly everyday. A company could mimic a product with minimum time and cost. Therefore, companies who focus on product, find another approach to maximize gain, which is by focusing in consumer. In practice, not every consumer will give a surplus. One...
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| Format: | Final Project |
| Language: | Indonesia |
| Online Access: | https://digilib.itb.ac.id/gdl/view/26151 |
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| Institution: | Institut Teknologi Bandung |
| Language: | Indonesia |
| Summary: | In this era, knowledge and technology is growing rapidly everyday. A company could mimic a product with minimum time and cost. Therefore, companies who focus on product, find another approach to maximize gain, which is by focusing in consumer. In practice, not every consumer will give a surplus. One of the method to measure the consumer value is by using Customer Lifetime Value (CLV). <br />
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This final project will disscuss about CLV Markov Chain method that was developed by Hwang and friends (2004). The author will develop the model by using inconstant interest rate. Aside that, the author will also create a program that can calculate CLV using software called Rstudio. This choice was made because Rstudio is a free program and can be used by everyone. <br />
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