Results 141 to 150 of about 4,441 (196)

Predicting customer value per product: From RFM to RFM/P

Journal of Business Research, 2021
Abstract Recency, frequency, and monetary (RFM) models are widely used to estimate customer value. However, they are based on the customer perspective and do not take the product perspective into account. Furthermore, predictability decreases when recency, frequency, and monetary values vary among product categories.
Cleo Schmitt Silveira
exaly   +2 more sources

Knowledge discovery on RFM model using Bernoulli sequence

Expert Systems With Applications, 2009
The objective of this paper is to introduce a comprehensive methodology to discover the knowledge for selecting targets for direct marketing from a database. This study expanded RFM model by including two parameters, time since first purchase and churn probability.
I-Cheng Yeh
exaly   +2 more sources

A stochastic RFM model

Journal of Interactive Marketing, 1999
Abstract A central problem in database marketing is how to choose which customers in the firm's database to target with an offer. This paper presents a simple stochastic RFM model to carry out such a task. By making a few straightforward assumptions about the customers in the database, the stochastic model provides a means of (1) ranking customers in
Richard Colombo, Weina Jiang
openaire   +1 more source

Customer clustering using RFM analysis

2018 26th Signal Processing and Communications Applications Conference (SIU), 2018
In this study, customers' behaviors are determined by detecting natural clusterings using existing reservation and customer data. We also customize their services and sales strategies according to these behaviors. The basic characteristics that provide these existing heuristics have been extracted by the decision tree approach after the K-means is ...
Muhammet Pakyürek   +5 more
openaire   +1 more source

Home - About - Disclaimer - Privacy