RFM Analysis for Customer Segmentation
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If you run any kind of business, in order to make it successful, it’s a given that you need to know your customers. But for that, you need to first segment them. Segmentation can be done in a number of ways, but one of the most effective one is RFM analysis. RFM stands for the Recency, Frequency, and Monetary value. This post will show you how your business can use RFM analysis to segment customers.
