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Optimizing marketing planning and budgeting using Markov decision processes: An airline case study
2007
IBM Journal of Research and Development
Many companies have no reliable way to determine whether their marketing money has been spent effectively, and their return on investment is often not evaluated in a systematic manner. Thus, a compelling need exists for computational tools that help companies to optimize their marketing strategies. For this purpose, we have developed computational models of customer buying behavior in order to determine and leverage the value generated by a customer within a given time frame. The term "customer
doi:10.1147/rd.513.0421
fatcat:nwpzob4have6tpfpb2aallcv7e