RFM analysis

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Abbreviation for recency, frequency, monetary analysis: a marketing tool used to analyse customer behaviour in terms of how recently they have made a purchase, how frequently they have done so, and how much money they have spent. It is widely used to select customers for direct marketing promotions, as applying RFM has been found to be more cost-effective than a blanket approach. It can also be used to identify customers who made regular purchases in the past but have for some reason ceased to do so.

Subjects: Business and Management.

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