Estimating prospect lifetime values

US10769651B2 · kind B2 · utility

Assignee

• Tata Consultancy Services Limited · IN

Inventors

• Raghav Mathur · Denver, US
• Swaroop KROTHAPALLI · Tadepalli, IN

Key dates

• Filing date: Feb 3, 2016
• Grant date: Sep 8, 2020
• Expiry date: Nov 7, 2038

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q30/0201
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

The disclosure relates generally to estimating lifetime values, and more particularly to estimating Prospect Lifetime Values (PLTVs) for prospective customers for an organization. In one example, for estimating PLTV for a prospective customer, a distance of the prospective customer from each of existing customers of the organization is computed using existing customer data and prospective customer data. The existing customer data includes at least one of existing customer demographic variables and existing customer profile variables. Further, the prospective customer data includes at least one of prospective customer demographic variables and prospective customer profile variables. Subsequently, for the prospective customer, a pre-defined number of existing customers are determined from amongst the plurality of existing customers based on the distance. Thereafter, PLTV for the prospective customer is estimated using an average of Customer Lifetime Values (CLTVs) for the determined existing customers.