Predictive modeling includes all of the following steps except:
A) devising an equation for LTV that includes data on measurable behaviors
B) identifying the most predictive variables currently available
C) generating a second equation to predict an individual customer's LTV
D) using transactional data to calculate LTV retrospectively

Question

Quizplus · Accepted Answer

Predictive modeling focuses on forecasting or predicting future outcomes based on historical and current data. It involves identifying variables that can predict future behavior and devising equations or models based on those variables. Calculating LTV (Lifetime Value) retrospectively using transactional data is not a predictive modeling step but rather an analysis of past data.

Predictive Modeling Includes All of the Following Steps Except