In this presentation, Professor Peter Fader illustrates a remarkably simple but powerful model to predict future repeat purchasing patterns in a standard spreadsheet environment. The particular focus here is on non-profits trying to project donations, but it’s broadly applicable to many other B2B and B2C companies as well. Beyond the performance of the model, this talk also offers useful insights about data management and managerial diagnostics for model assessment.
Professor Fader also discusses the gap between academic research and industry use of marketing data. As the Co-Founder of the Wharton Customer Analytics Initiative, he shares how this initiative uses an innovative crowdsourcing process to develop new statistical methods and apply them across a wide range of industries.
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