Which mathematical formula, developed in 1995, revolutionized retail marketing by quantifying the lifetime value of customers and is now a standard metric in data analytics?

In the world of retail analytics, mathematics plays a crucial role in interpreting consumer behavior and optimizing sales strategies. This trivia question explores how mathematical modeling revolutionized a specific aspect of retail data analytics that transformed how companies understand customer value and make marketing decisions. Test your knowledge about this influential mathematical concept that changed how businesses allocate their marketing resources!

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RFM (Recency, Frequency, Monetary) Model
Customer Lifetime Value (CLV) Formula
Nash Equilibrium for Pricing Strategy
Bayesian Conversion Probability Index