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The RFM Model Analysis for VIP Customer: A Case Study of Golf Clothing Brand
Numerous firms accumulate large quantities of data or transactions after importing information systems and services, which leads to troubles with data procedure. Firms also have demands to find customers’ information from large datasets and to understand how to develop marketing strategies accuratel...
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Published in: | International journal of knowledge management 2022-01, Vol.18 (1), p.1-18 |
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Main Authors: | , |
Format: | Article |
Language: | English |
Subjects: | |
Citations: | Items that this one cites |
Online Access: | Get full text |
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Summary: | Numerous firms accumulate large quantities of data or transactions after importing information systems and services, which leads to troubles with data procedure. Firms also have demands to find customers’ information from large datasets and to understand how to develop marketing strategies accurately to adjust their operational methods. Therefore, this study proposed customer ranking combined Big Data process based on the RFM model (Recency, Frequency, Monetary) to develop a recommendation algorithm using an association rule, which finds greater recommendation to promote operational effects of firms. We adjust the weight of potential information to perform the customer ranking, which is conducted by using agglomerate hierarchical clustering. Finally, we present the recommendation by the association rule for each customer level.The datasets in this study use actual sales data; therefore, they are authentic and have been practically applied. The metrics of evaluation showed that the recommended system his study proposes is highly accurate. |
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ISSN: | 1548-0666 1548-0658 |
DOI: | 10.4018/IJKM.290025 |