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pymc-labs / pymc-marketing

Bayesian marketing toolbox in PyMC. Media Mix (MMM), customer lifetime value (CLV), buy-till-you-die (BTYD) models and more.
https://www.pymc-marketing.io/
Apache License 2.0
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Add Additional Expressions to sBG Model #167

Open ColtAllen opened 1 year ago

ColtAllen commented 1 year ago

The research paper for the Shifted Beta-Geometric model used in discrete contractual modeling contains some additional expressions which can be added to https://github.com/pymc-labs/pymc-marketing/pull/133:

https://faculty.wharton.upenn.edu/wp-content/uploads/2012/04/Fader_hardie_jim_07.pdf

Specifically, expressions 7 & 8 on page 6 of the paper, which are simplified variants of the closed-form probability mass function and cohort retention rate, respectively. There is also an equation for discounted lifetime value on the first page.

ricardoV94 commented 1 year ago

Probably relevant: #169

ColtAllen commented 9 months ago

I think adding customer_lifetime_value support for this model is a good idea, per https://github.com/pymc-labs/pymc-marketing/issues/527.