Customer Segmentation using RFM analysis
RFM (Recency, Frequency, Monetary) analysis is a business analytics technique and a great way to segment your customers by proven marketing principles of segmentation, targeting & positioning, and maximizing customer lifetime value.
RFM to create customer segmentation for your marketing campaigns, RFM helps businesses utilize their marketing budgets wisely and efficiently, while also boosting the overall impact of marketing on the business.
How recently customers purchased?
How often customers are buying?
How much did a customer buy?
Figuring out where and how to spend your marketing dollars to maximize your investment efficiency can be a critical and daunting task. However, there’s good news!
Analogyx BI’s Customer Segmentation dashboard defines high, mid, and low-value customers, as well as, their geographic location to maximize marketing investment through targeted marketing with the help of Analogyx BI’s Machine Learning capabilities.
Analogyx BI allows you to apply Prescriptive Analytics to learn a great deal about your customers and your product distribution so you can increase the effectiveness of your marketing dollars through Segmentation.
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