Interpurchase time

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The interpurchase time is the time between two consecutive purchases. This key statistic can be used is often used in marketing modeling.[1] Interpurchase time can be used as a predictor variable (e.g. in models for cross-selling or customer attrition) or as a predicted variable (e.g. by using the statistical technique of survival analysis). A related concept (recency) occurs when considering the time between the current time point and the previous purchase. This type of interpurchase time is often used in database marketing.

[edit] References

  1. ^ Prinzie A., D. Van den Poel (2007), Predicting home-appliance acquisition sequences: Markov/Markov for Discrimination and survival analysis for modeling sequential information in NPTB models, Decision Support Systems, 44, 28-45.

[edit] See also

RFM

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