A(n)________ analysis analyzes and ranks customers according to their purchasing patterns.
A) regression
B) cluster
C) RFM
D) market basket

Question

Quizplus · Accepted Answer

RFM analysis stands for Recency, Frequency, Monetary analysis that helps in analyzing and ranking customers based on their purchasing behavior. It considers three factors- how recently a customer has made a purchase, how frequent are their purchases, and how much money they spent. This type of analysis is commonly used in customer retention and loyalty programs.

A(n)________ Analysis Analyzes and Ranks Customers According to Their Purchasing