________ analysis is a way of analyzing and ranking customers according to their purchasing patterns.
A) Regression analysis
B) CRM
C) Market-basket
D) RFM

Question

Quizplus · Accepted Answer

RFM analysis (Recency, Frequency, Monetary) is a way of analyzing and ranking customers based on their recency of purchase, frequency of purchase, and monetary value of purchases. This analysis helps businesses identify their most valuable customers and target them for further marketing efforts. The other options, regression analysis and CRM, do not specifically focus on analyzing and ranking customers' purchasing patterns. Market-basket analysis is a type of data analysis that looks at the products customers buy together to identify patterns and relationships.

________ Analysis Is a Way of Analyzing and Ranking Customers