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Data-mining application for country segmentation based on the RFM model
International Journal of Data Analysis Techniques and Strategies, 2008For effective Customer Relationship Management (CRM), it is important to gather information on customer value. Segmentation is the method of knowing the customers and partitioning a population of customers into smaller groups. This paper develops a novel country segmentation methodology based on Recency (R), Frequency (F) and Monetary value (M ...
Somayeh Alizadeh, Mehdi Ghazanfari
exaly +3 more sources
Using improved RFM model to classify consumer in big data environment
International Journal of Embedded Systems, 2021Guang Sun
exaly +3 more sources
E-commerce Customer Segmentation Based on RFM Model
Lecture Notes in Electrical Engineering, 2022exaly +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 ...
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Segmentaion of C2C Customer Using RFM Model
2011Customers segmentation is the key to customer relationship management, this paper analyze RFM (recency, frequency, and monetary value) paradigm with customer, and use RFM value as clustering properties by K-means. The customers can be divided into four levels includes important keep customers, important development customers, general customers ...
Jianying Xiong, Leiyue Yao
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Customer Segmentation Using Fuzzy-AHP and RFM Model
2020 8th International Conference on Reliability, Infocom Technologies and Optimization (Trends and Future Directions) (ICRITO), 2020In today’s business environment the number of customers buying products online have increased, it is difficult for the firm to determine customer lifetime value (CLV) of every customer. In this paper, customer segmentation is used to find the customer lifetime value for a UK based registered company that sells unique gifts.
Anu Gupta Aggarwal, Sweta Yadav
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Classifying the segmentation of customer value via RFM model and RS theory
Expert Systems With Applications, 2009Data mining is a powerful new technique to help companies mining the patterns and trends in their customers data, then to drive improved customer relationships, and it is one of well-known tools given to customer relationship management (CRM). However, there are some drawbacks for data mining tool, such as neural networks has long training times and ...
Ching-Hsue Cheng
exaly +3 more sources
APPLICATION OF RFM MODEL ON CUSTOMER SEGMENTATION IN DIGITAL MARKETING
Nigerian Journal of Science and EnvironmentCustomers playa pivotal role in the success of any business. The ability to attract and retain the right clientele, who consistently engage with a company's products and services, hinges on a thorough understanding of their purchasing behavior. Successful businesses tailor their offerings to meet the unique requirements and preferences
Maureen Akazue +2 more
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Customer lifetime value determination based on RFM model
Marketing Intelligence & Planning, 2016Purpose– One of the salient challenges in customer-oriented organizations is to recognize, segment and rank customers. Customer segmentation is usually based on customer lifetime value (CLV) measured by three purchase variables: “Recency,” “Frequency” and “Monetary.” However, due to the ambiguity of these variables, using deterministic approach is not ...
Fariba Safari +2 more
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Fast RFM Model for Customer Segmentation
Companion Proceedings of the Web Conference 2022, 2022Shicheng Wan +4 more
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