Question

if you were presenting your data results, and wanted to talk about how much a new customer might spend over the full relation with your business, what number would you include?

Answer 1

The number you would include when presenting your data results and discussing how much a new customer might spend over the full relationship with your business is the average lifetime value of a customer.

Step-by-step explanation:

When presenting your data results and discussing how much a new customer might spend over the full relationship with your business, you would include the average lifetime value of a customer.

The average lifetime value represents the total amount of money a customer is expected to spend with your business from their first purchase to their last. It takes into account factors such as average purchase frequency, average order value, and customer retention rate.

For example, if your data shows that the average customer makes 10 purchases per year with an average order value of $50 and stays with your business for an average of 5 years, the average lifetime value of a customer would be $10,000 ($50 x 10 x 5).