Results 171 to 180 of about 7,770 (222)
Some of the next articles are maybe not open access.
Predicting customer value per product: From RFM to RFM/P
Journal of Business Research, 2021Abstract 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, 2009The 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 New Perspective on RFM Analysis
, 2017 The aim of this chapter is proposing a novel integrated Fuzzy Group Multiple Attribute Decision Making (FGMADM) and Fuzzy C-Means Clustering (FCM) as a DM tool for segmentation of customers (retailers), based on an updated RFM model. For this purpose, the most important criteria to evaluate retailers from the in depth literature survey and experts ...
Mohammad Hasan Aghdaie +1 more
openaire +2 more sources
A New RFM Model Approach: RFMS
, 2023 With the advancement of technology and the widespread use of the Internet, the concept of big data, which we have started to hear of frequently, has emerged.
Semra Erpolat Taşabat +3 more
openaire +2 more sources
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
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), 2018In 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
Toward Targeted Mining of RFM Patterns
IEEE Transactions on Neural Networks and Learning SystemsIn today's era of information overload, leveraging data mining techniques to understand and analyze customer behavior has become essential for businesses. Among these techniques, the recency, frequency, and monetary value analysis model serves as a powerful tool for customer segmentation, enabling companies to identify high-value customers.
Xiaoye Chen +5 more
openaire +2 more sources
RFM approach for telecom insolvency modeling
Kybernetes, 2016Purpose – The purpose of this paper is to present application of recency, frequency and monetary value (RFM) approach to predict customer insolvency using telecommunication data corresponding to RFM of late payments. The study tackles a serious problem that telecommunication companies often face and shows the ways to ...
openaire +1 more source