Definition:
Gaussian distribution (also referred to as normal distribution) is a bell-shaped curve, and it’s assumed that during any measurement values can follow a normal distribution with an equal number of measurements above and below the mean value.
Further Reading:
Book: Running Lean by Ash Maurya.
Definition:
customer lifetime value (CLV) is a metric that represents the whole net profit a company makes from any given customer. clv is a projection to estimate a customer’s financial value to a business when factoring within the value of the relationship with a customer over time. clv is a vital metric for determining how much money a company needs to pay on acquiring new customers and how much repeat business a company will expect from certain consumers.
Further Reading:
Book: Running Lean by Ash Maurya.
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