Research Recap
Beyond Next Best Actions: Optimizing Short-Term Interventions for Long-Term Value
Key Takeway
Reinforcement machine learning can help companies understand their customers, but first-party data is typically noisy and focused on short-term effects that may not optimize long-term outcomes such as customer lifetime value (CLV). A novel Multi-Response State Representation (MRSR) Learning method can address these challenges to go beyond next best actions.