A set of state-of-the-art probabilistic modeling approaches to derive estimates of individual customer lifetime values (CLV). Commonly, probabilistic approaches focus on modelling 3 processes, i.e. individuals attrition, transaction, and spending process. Latent customer attrition models, which are also known as "buy-til-you-die models", model the attrition as well as the transaction process. They are used to make inferences and predictions about transactional patterns of individual customers su