What do you understand by the term RFM analysis
What do you understand by the term RFM analysis?
Expert
RFM analysis is a Business Intelligence (or BI) reporting system which ranks and analyzes customers based on their purchasing patterns. R signify to ‘how recently’ a customer placed an order, F signify to ‘how frequently’ the customer orders, and M signify to ‘how much money’ the customer spends. Usually, the customers are ranked into ‘20%’ groups and assigned a number to present their ranking. Therefore 1 means top 20%, 2 the next 20% and so on. In this system a score of 1 is top and a score of 5 is bad. Therefore a customer with an RFM score = 1 5 1 would be one who has ordered newly, does not order frequently, and who makes large purchases.
Briefly describe the differentiation between data warehouse and OLAP?
Describes the main data structures used in following areas: RDBMS, Network data model and Hierarchical data model?
What is Monopoly explain in brief?
Describe some of the chrematistics of good data definitions.
Briefly describe time series algorithm in data mining?
Give a brief introduction of the term non-additive facts?
Define the class?
What do you mean by the term Open Server in the Sybase?
Illustrates the way to assign an address to an element of a pointer array? Answer: We can assign a memory address to an element of an array of pointers by usin
Clarify how we can export mappings to production environment?
18,76,764
1936120 Asked
3,689
Active Tutors
1448812
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!