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Mathematical Underpinnings of AnalyticsTheory and Applications$
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Peter Grindrod

Print publication date: 2014

Print ISBN-13: 9780198725091

Published to Oxford Scholarship Online: March 2015

DOI: 10.1093/acprof:oso/9780198725091.001.0001

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Customer journeys and Markov chains

Customer journeys and Markov chains

(p.190) 7 Customer journeys and Markov chains
Mathematical Underpinnings of Analytics

Peter Grindrod CBE

Oxford University Press

This chapter considers Markov models for customer behavioural change and hence customer value change based on longitudinal customer data. It considers the use of genetic algorithms in calibrating such models. It presents applications to a supermarket chain, mobile phone company, and to an online grocery.

Keywords:   customer behaviour, customer value, Markov chains, genetic algorithms, behavioural dynamics, seasonality, case studies

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