What kinds of models can I create for low frequency businesses?

I recently switched to a startup at a data analyst role and have been teaching myself about statistics…I found survival analysis models and wanted to try and implement one to determine our customer retention rate and eventually a LTV

The business I’m in is very low frequency (most customers use our product once a year, but we do have many users) and I’m worried this will lead to poor results. What other models do…

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You suggest I look at? I want to try and implement it in a Bayesian framework

Bayesian approach makes sense, as you can set priors based on business knowledge in the case of low samples

Look into rstan, rstanarm for implementation

Sounds like your time would be better spent on understanding ROI on ad spend or in another area with more traffic. If your customers have a high LTV, then account managers and relationships would play a much bigger factor than any model could capture.

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