AI Enabled Customer Segmentation using RFM Analysis:

Smart retailers use sophisticated Analytics techniques to offer superior customer experience. RFM Analysis is of the popular technique used to segment customers. Customers are scored based on the three factors - Recency, Frequency and Monetary value.

Recency – How recently a customer has purchased

Frequency – How often a customer purchases

Monetary – How much a customer spends

Based on the score results of the RFM analysis, customers are segmented into various categories. Customer Segmentation using RFM Analysis is a powerful technique to identify customer groups and run targeted offers.

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