consider an e-commerce website which daily updates their transaction data. I take interest in predicting the revenue an account generates over a certain time range, say until the fifth year after the first purchase. What I'd like to have is a method which daily updates the predicted revenue at the end of the fifth year. This requires in particular: - if there had been a purchase on the day before, the predicted value must increase - if there was not purchase on the day before, the predicted value should fall slightly, but never below the already realized revenue
Do you have any suggestion what kind of model could achieve this?
Thanks for the aid