Methodologies to predict the next transactions data - Data Science & Machine Learning

Data Analysis
#1

Hello All, Here my question give me a solution

I have a data-set with three columns: customer_id, transaction_date & sales_amount. Product data can also be added but to avoid complexity, I’ve not added that. The objective on which I’d like to work on is to predict the next date on which a customer will make another purchase and this has to be done for all the customers present in the data-set.

The existing materials on similar line are BTYDplus package, survival analysis methodology, etc. but none of them clearly question and answers about predicting the next transaction date of a customer.

Is Survival Analysis an option for predicting the next purchase date as it can be helpful in predicting the next event, only confusion is, will it work without target variable?

Thanks

#3

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