Using customer lifetime value to improve the prediction of bank deposit subscription in telemarketing campaigns

Customer lifetime value (LTV) enables using client characteristics, such as recency, frequency and monetary (RFM) value, to describe the value of a client through time in terms of profitability. We present the concept of LTV applied to telemarketing for improving the return-on-investment, using a recent (from 2008 to 2013) and real case study of bank campaigns to sell long- term deposits. The goal was to benefit from past contacts history to extract additional knowledge. A total of twelve LTV input variables were tested, un- der a forward selection method and using a realistic rolling windows scheme, highlighting the validity of five new LTV features. The results achieved by our LTV data-driven approach using neural networks allowed an improvement up to 4 pp in the Lift cumulative curve for targeting the deposit subscribers when compared with a baseline model (with no history data). Explanatory knowledge was also extracted from the proposed model, revealing two highly relevant LTV features, the last result of the previous campaign to sell the same product and the frequency of past client successes. The obtained results are particularly valuable for contact center companies, which can improve pre- dictive performance without even having to ask for more information to the companies they serve.

On the length of bank-firm relationships: an empirical application to a major French bank

NIPE - WP 01/ 2016

Digital literacy, technology and social inclusion: making sense of one-to-one computer programmes around the world

This book was produced in the scope of a research project entitled “Navigating with ‘Magalhães’: Study on the Impact of Digital Media in Schoolchildren”. This study was conducted between May 2010 and May 2013 at the Communication and Society Research Centre, University of Minho, Portugal and it was funded by the Portuguese Foundation for Science and Technology (PTDC/CCI-COM/101381/2008).

Foreword [to Digital literacy, technology and social inclusion: making sense of one-to-one computer programmes around the world]

(Excerto) In times past, learning to read, write and do arithmetic was to get on course to earn the “writ of emancipation” in society. These skills are still essential today, but are not enough to live in society. Reading and critically understanding the world we live in, with all its complexity, difficulties and challenges, require not only other skills (learning to search for and validate information, reading with new codes and grammar, etc) but, to a certain extent, also metaskills, matrixes and mechanisms that are transversal to the different and new literacies, are necessary. They are needed not just to interpret but equally to communicate and participate in the little worlds that make up our everyday activities as well as, in a broader sense, in the world of the polis, which today is a global world.

Introduction [to Digital literacy, technology and social inclusion: making sense of one-to-one computer programmes around the world]

This book was produced in the scope of a research project entitled “Navigating with ‘Magalhães’: Study on the Impact of Digital Media in Schoolchildren”. This study was conducted between May 2010 and May 2013 at the Communication and Society Research Centre, University of Minho, Portugal and it was funded by the Portuguese Foundation for Science and Technology (PTDC/CCI-COM/101381/2008). As we shall explain in more detail later in this book, the main objective of that research project was to analyse the impact of the Portuguese government programme named ´e-escolinha´ launched in 2008 within the Technological Plan for Education. This Plan responds to the principles of the Lisbon Strategy signed in 2000 and rereleased in the Spring European Council of 2005.