DocumentCode
2488328
Title
The solution to a kind of Markov chain CRM model with a constant state keeping probability
Author
Bocheng, Chen ; Wenhuang, Liu ; Yingjie, Li
Author_Institution
Grad. Sch. at Shenzhen, Tsinghua Univ., Shenzhen
fYear
2008
fDate
25-27 June 2008
Firstpage
4196
Lastpage
4200
Abstract
Based on the solution to a kind of Markov chain (MC) customer relationship management (CRM) model, the resolve solution of the MC CRM model with the state keeping probability is studied in the paper. By computing the inverse matrix for the equation given, we make a resolve solution for this kind of MC CRM model, then shortly make a comparison between the solutions and CLV (the total expected net present value in customer life cycle) results, with and without such state keeping probability.
Keywords
Markov processes; customer relationship management; matrix inversion; probability; Markov chain CRM model; constant state keeping probability; customer relationship management; inverse matrix; Automation; Costs; Customer relationship management; Engineering management; Equations; Infinite horizon; Intelligent control; Inverse problems; Marketing and sales; Systems engineering and theory; CRM model; Markov chain; inverse matrix;
fLanguage
English
Publisher
ieee
Conference_Titel
Intelligent Control and Automation, 2008. WCICA 2008. 7th World Congress on
Conference_Location
Chongqing
Print_ISBN
978-1-4244-2113-8
Electronic_ISBN
978-1-4244-2114-5
Type
conf
DOI
10.1109/WCICA.2008.4593596
Filename
4593596
Link To Document