What's in your wallet? Modeling quantiles for wallet estimation

We're excited to announce our next event with Claudia Perlich presenting her work with wallet estimation models.

PLEASE NOTE THE CHANGE IN VENUE! WE WILL BE AT MEETUP HQ NEXT WEEK @ 632 Broadway, Suite 301 (3rd floor). Please be kind - Make sure to update your RSVP if you cannot make it for any reason. Thank you.

6:30: Networking, pizza, & beer courtesy of Meetup!

7:00: Presentation starts

Abstract: The wallet of a customer is defined as the total amount this customer can spend in a specific product category. This is a vital piece of information for planning marketing and sales efforts. We discuss the important problem of customer wallet estimation, while emphasizing the use of predictive modeling technologies to generate useful estimates, and minimizing reliance on primary research. We suggest several customer wallet definitions and corresponding evaluation approaches. Our main contribution is in presenting several new predictive modeling approaches which allow us to estimate customer wallets, despite the fact that these are typically unobserved. We present empirical results on the success of these modeling approaches, using a dataset of IBM customers. This work was recognized as a runner up by the KDD Case Study competition and as a finalist in the INFORMS Edelman prize

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Speaker: Claudia Perlich is currently working as Chief Scientist at Media6Degrees, an targeted marketing company that specializes in privacy-friendly online display advertising. She worked previously at the IBM T.J. Watson Research Center in the Predictive Modeling Group. She has won numerous awards for her research and application of data mining/predictive modeling and won the KDD CUP 3 years in a row from 2007-2009. Claudia graduated in 2004 from the Information Systems Department at Stern, NYU under the supervision of Foster Provost.