Book Image

DAX Cookbook

By : Greg Deckler
Book Image

DAX Cookbook

By: Greg Deckler

Overview of this book

DAX provides an extra edge by extracting key information from the data that is already present in your model. Filled with examples of practical, real-world calculations geared toward business metrics and key performance indicators, this cookbook features solutions that you can apply for your own business analysis needs. You'll learn to write various DAX expressions and functions to understand how DAX queries work. The book also covers sections on dates, time, and duration to help you deal with working days, time zones, and shifts. You'll then discover how to manipulate text and numbers to create dynamic titles and ranks, and deal with measure totals. Later, you'll explore common business metrics for finance, customers, employees, and projects. The book will also show you how to implement common industry metrics such as days of supply, mean time between failure, order cycle time and overall equipment effectiveness. In the concluding chapters, you'll learn to apply statistical formulas for covariance, kurtosis, and skewness. Finally, you'll explore advanced DAX patterns for interpolation, inverse aggregators, inverse slicers, and even forecasting with a deseasonalized correlation coefficient. By the end of this book, you'll have the skills you need to use DAX's functionality and flexibility in business intelligence and data analytics.
Table of Contents (15 chapters)

Calculating the customer lifetime value

The customer lifetime value, variously abbreviated as CLV or CLTV and also called lifetime customer value (LCV) as well as lifetime value (LTV), has become an important customer metric for businesses since its introduction in the late 1980s. In concept, the CLV is a predictive measure of the expected revenue or profit for a customer or group of customers over the entire lifespan of their relationship with a business.

While there is no universal methodology by which the CLV is constructed, at least there are not any approved by the Marketing Accountability Standards Board (MASB), this has not stopped the CLV from becoming widely adopted by Fortune 500 firms and other businesses. The reason for this is that the CLV confers a number of benefits including the ability to estimate, analyze, and/or justify customer acquisition/marketing strategies...