Let’s face it, in business, resources - whether it’s time or money - are always limited. RFM Analysis is like your savvy business advisor, guiding you on where to invest. Instead of spreading your efforts thinly across all customers and praying for success,focus on the ones who bring t...
There is also anExcel template from UMacs Business Solutionsthat sells for $3.99. There is a walkthrough for setting up RFM segmentation in Excel onCogniView’s siteas well. Another resource I stumbled upon was by Dave Langer, a data analytics enthusiast. Here is a brief video on how he...
As you will see, RFM analysis is a straight forward process. The goal is to systematically score each customer according to recency, frequency, and monetization. We do that by first rank ordering all customers across our chosen metric, and then scoring them based on how well they perform rela...