{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2025,10,17]],"date-time":"2025-10-17T13:54:29Z","timestamp":1760709269837,"version":"3.41.2"},"reference-count":60,"publisher":"Emerald","issue":"2","license":[{"start":{"date-parts":[[2017,3,13]],"date-time":"2017-03-13T00:00:00Z","timestamp":1489363200000},"content-version":"tdm","delay-in-days":0,"URL":"https:\/\/www.emerald.com\/insight\/site-policies"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["IMDS"],"published-print":{"date-parts":[[2017,3,13]]},"abstract":"<jats:sec>\n<jats:title content-type=\"abstract-subheading\">Purpose<\/jats:title>\n<jats:p>The purpose of this paper is to provide a customer lifetime value (CLV) model to carefully assess and classify banking customers using individual measures and covering customers\u2019 relationships with a portfolio of products of the company.<\/jats:p>\n<\/jats:sec>\n<jats:sec>\n<jats:title content-type=\"abstract-subheading\">Design\/methodology\/approach<\/jats:title>\n<jats:p>The proposed model comprises two sub-models: (sub-model 1) modelling and prediction of CLV in a multiproduct context using Hierarchical Bayesian models as input to (sub-model 2) a value-based segmentation specially designed to manage customers and products using the latent class regression. The model is tested using real transaction data of 1,357 customers of a bank.<\/jats:p>\n<\/jats:sec>\n<jats:sec>\n<jats:title content-type=\"abstract-subheading\">Findings<\/jats:title>\n<jats:p>This research demonstrates which drivers of customer value better predict the contribution margin and product usage for each of the products considered in order to get the CLV measure. Using this measure, the model implements a value-based segmentation, which helps banks to facilitate the process of customer management.<\/jats:p>\n<\/jats:sec>\n<jats:sec>\n<jats:title content-type=\"abstract-subheading\">Originality\/value<\/jats:title>\n<jats:p>Previous CLV models are mostly conceptual, generalisation is one of their main concerns, are usually focussed on single product categories using aggregated customer data, and they are not design with a special emphasis on their application as support for managerial decisions. In response to these drawbacks, the proposed model will enable decision makers to improve the understanding of the value of each customer and their behaviour towards different financial products.<\/jats:p>\n<\/jats:sec>","DOI":"10.1108\/imds-03-2016-0107","type":"journal-article","created":{"date-parts":[[2017,3,6]],"date-time":"2017-03-06T03:53:21Z","timestamp":1488772401000},"page":"250-266","source":"Crossref","is-referenced-by-count":8,"title":["A model to improve management of banking customers"],"prefix":"10.1108","volume":"117","author":[{"given":"Antonia","family":"Estrella-Ram\u00f3n","sequence":"first","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Manuel","family":"S\u00e1nchez-P\u00e9rez","sequence":"additional","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Gilbert","family":"Swinnen","sequence":"additional","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Koen","family":"VanHoof","sequence":"additional","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"140","reference":[{"issue":"1","key":"key2020120812185102500_ref001","doi-asserted-by":"crossref","first-page":"17","DOI":"10.1057\/dbm.2012.1","article-title":"Data mining framework for customer lifetime value-based segmentation","volume":"19","year":"2012","journal-title":"Database Marketing & Customer Strategy Management"},{"issue":"4","key":"key2020120812185102500_ref002","doi-asserted-by":"crossref","first-page":"570","DOI":"10.1287\/mksc.2013.0786","article-title":"A joint model of usage and churn in contractual settings","volume":"32","year":"2013","journal-title":"Marketing Science"},{"issue":"2","key":"key2020120812185102500_ref003","doi-asserted-by":"crossref","first-page":"508","DOI":"10.1016\/S0377-2217(03)00043-2","article-title":"Bayesian Network classifiers for identifying the slope of customer lifecycle of long-life customers","volume":"156","year":"2004","journal-title":"European Journal of Operational Research"},{"issue":"7","key":"key2020120812185102500_ref004","doi-asserted-by":"crossref","first-page":"10475","DOI":"10.1016\/j.eswa.2009.01.031","article-title":"Benefits of quantile regression for the analysis of customer lifetime value in a contractual setting: an application in financial services","volume":"36","year":"2009","journal-title":"Expert Systems with Applications"},{"issue":"1","key":"key2020120812185102500_ref005","doi-asserted-by":"crossref","first-page":"17","DOI":"10.1002\/(SICI)1520-6653(199824)12:1<17::AID-DIR3>3.0.CO;2-K","article-title":"Customer lifetime value: marketing models and applications","volume":"12","year":"1998","journal-title":"Journal of Interactive Marketing"},{"issue":"3","key":"key2020120812185102500_ref006","doi-asserted-by":"crossref","first-page":"271","DOI":"10.1177\/0092070304263341","article-title":"The theoretical underpinnings of customer asset management: a framework and propositions for future research","volume":"32","year":"2004","journal-title":"Journal of the Academy of Marketing Science"},{"issue":"1","key":"key2020120812185102500_ref007","doi-asserted-by":"crossref","first-page":"100","DOI":"10.1287\/mnsc.1070.0746","article-title":"Customer lifetime value measurement","volume":"54","year":"2008","journal-title":"Management Science"},{"issue":"1","key":"key2020120812185102500_ref008","doi-asserted-by":"crossref","first-page":"7","DOI":"10.1023\/B:DAMI.0000005256.79013.69","article-title":"Building an association rules framework to improve product assortment decisions","volume":"8","year":"2004","journal-title":"Data Mining and Knowledge Discovery"},{"issue":"1","key":"key2020120812185102500_ref009","doi-asserted-by":"crossref","first-page":"4","DOI":"10.1287\/mnsc.1090.1066","article-title":"Cost structure, customer profitability, and retention implications of self-service distribution channels: evidence from customer behavior in an online banking channel","volume":"56","year":"2010","journal-title":"Management Science"},{"issue":"8","key":"key2020120812185102500_ref010","doi-asserted-by":"crossref","first-page":"1181","DOI":"10.1016\/j.knosys.2011.05.004","article-title":"iValue: a knowledge-based system for estimating customer prospect value","volume":"24","year":"2011","journal-title":"Knowledge-Based Systems"},{"issue":"9","key":"key2020120812185102500_ref011","doi-asserted-by":"crossref","first-page":"1315","DOI":"10.1108\/IMDS-01-2013-0045","article-title":"Customer value assessment of pharmaceutical marketing in Taiwan","volume":"113","year":"2013","journal-title":"Industrial Management & Data Systems"},{"key":"key2020120812185102500_ref012","unstructured":"DeSarbo, W.S. and Wedel, M. 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