What is lifetime period in SAP CRM-ANA - CRM Analytics?

SAP Term: lifetime period

• Component: CRM-ANA

• Component Name: CRM Analytics

• Description: A period used in the determination of the customer lifetime value. The customer lifetime cycle is divided up into lifetime periods. A lifetime period is typically measured in years.

Smart SAP Assistant

• Key Concepts: 
  Lifetime period is a term used in SAP CRM Analytics to refer to the length of time that a customer has been associated with a company. It is calculated by subtracting the date of the first transaction from the current date. This period is used to measure customer loyalty and to identify trends in customer behavior. 
  
  How to use it: 
  The lifetime period can be used to measure customer loyalty and identify trends in customer behavior. It can be used to analyze customer data over time, such as how long customers have been associated with a company, how often they purchase products or services, and what types of products or services they purchase. This information can be used to create targeted marketing campaigns and improve customer service. 
  
  Tips & Tricks: 
  When analyzing customer data, it is important to consider the lifetime period of each customer. This will help you identify customers who have been loyal for a long time and those who may be at risk of leaving. Additionally, it can help you identify customers who may be more likely to purchase certain products or services. 
  
  Related Information: 
  The lifetime period is just one of many metrics that can be used to measure customer loyalty and identify trends in customer behavior. Other metrics include average order value, frequency of purchases, and average time between purchases. Additionally, customer segmentation can be used to further analyze customer data and create targeted marketing campaigns.