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Study of Customer Value and Supplier Dependence with the RFM Model
2015In this study, data mining is applied to the use of an Enterprise Resource Planning (ERP) database to explore the core value of business operations by revising the RFM model into an RFGP model through “customer value analysis”. This model is used as a tool by enterprises to make proper adjustment to business strategies in a timely manner.
Jui-Hung Kao +3 more
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A Customer Segmentation Model Proposal for Retailers: RFM-V
2021Today'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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Client Classification of Agricultural Products E-Commerce by RFM Model
2018 Eighth International Conference on Instrumentation & Measurement, Computer, Communication and Control (IMCCC), 2018It is the key link to maintain the relative competitive advantage to accurately classify the clients and take precise marketing strategy in the increasing competitive commercial market of Chinese agricultural products. The RFM model was introduced in this paper to construct the classification index of e-commerce clients of agricultural products and the
Jiaying Chen, Jinjing LI, Shaojiang Lin
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Dynamic Models for RFM Variables: A Forward Looking Approach
2015On the database marketing literature, it is common practice to summarize customers’ past behavior in terms of their Recency, Frequency and Monetary Value (RFM) characteristics. Recency is the time of most recent purchase, Frequency is the number of past purchases and Monetary Value is the average purchased amount per transaction.
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Customer Behavior Analytics in A Supermarket in Taiwan Based on RFM Model
International Journal of Industrial and Systems Engineering, 2023Mei Wei Huang +4 more
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Rfm Model Customer Segmentation Based on Hierarchical Approach Using Fca
Expert Systems with Applications, 2023Chongkolnee Rungruang +4 more
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Research on VIP customer classification rule base on RFM model
MSIE 2011, 2011With the development of society and increasingly fierce competition in the retail industry, seeking and maintaining VIP customers are the focus of competition between supermarkets. The purpose of this study is to dig out the most important VIP customers from all customers, using data mining based on rough set technology.
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Customer Segmentation with RFM Analysis using ML Models
2023 3rd International Conference on Innovative Mechanisms for Industry Applications (ICIMIA), 2023Manpreet Kaur +4 more
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Applied Marketing Analytics: The Peer-Reviewed Journal
Customer segmentation is important for marketing and campaign management, and the RFM (recency, frequency and monetary) model is widely used for this purpose. However, existing algorithms typically segment customers based on overall similarity in R, F and M scores, which may not provide the most meaningful insights for retailers.
A. Joy Christy +2 more
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Customer segmentation is important for marketing and campaign management, and the RFM (recency, frequency and monetary) model is widely used for this purpose. However, existing algorithms typically segment customers based on overall similarity in R, F and M scores, which may not provide the most meaningful insights for retailers.
A. Joy Christy +2 more
openaire +1 more source