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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
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Knowledge Discovery on RFM Model using Bernoulli Sequence
SSRN Electronic Journal, 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 0002 +2 more
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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 0001, You-Shyang Chen
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Mathematics, 2021 In the field of strategic marketing, the recency, frequency and monetary (RFM) variables model has been applied for years to determine how solid a database is in terms of spending and customer activity. Retailers almost never obtain data related to their
Rocio Gonzalez Martinez +2 more
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Mining Valuable Fuzzy Patterns via the RFM Model
2022 IEEE International Conference on Data Mining Workshops (ICDMW), 2022Yanlin Qi +3 more
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A Customer Segmentation Model Proposal for Retailers: RFM-V
, 2021 Today's businesses have large quantity of demographic, economic and behavioral data on their customers with the rapid development of computer and internet technologies. Customer segmentation analyzes are carried out on the basis of various parameters in order to identify and group consumers with different needs and wishes and to develop marketing ...
Özkan, Pınar, Deveci Kocakoç, İpek
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E-commerce Customer Segmentation Based on RFM Model
Lecture Notes in Electrical Engineering, 2022openaire +3 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
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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
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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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