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Vilka [71]
2 years ago
9

Explain the value of applying the recency/fre- quency/monetary assessment to an organization's cus- tomer database Is it possibl

e to determine when an organization should place more weight on one of the three variables over the other? If so, explain why. If not, explain why not.
Business
1 answer:
maks197457 [2]2 years ago
4 0

Answer:

RFM stands for Recency, Frequency, and Monetary value, each corresponding to some key customer trait. These RFM metrics are important indicators of a customer's behavior because frequency and monetary value affects a customer's lifetime value, and recency affects retention, a measure of engagement.03-Jun-2021

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