RFM Analysis
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Description
RFM analysis is a way of analyzing and ranking customers according to their purchasing patterns. It’s a simple technique that considers how recently (R) a customer has ordered, how frequently (F) a customer orders, and how much money (M) the customer spends per order.
Concept Prerequisite
Wikipedia Reference
http://en.wikipedia.org/wiki/RFM
Learning Material
Covered in Topic(s)
| Database Marketing |