Journal ArticleDOI
Using database marketing techniques to enhance your one‐to‐one marketing initiatives
TLDR
In this paper, the authors describe the advantages of the mathematical computation RFM (recency, frequency, and monetary value) in consumer behavioral analysis and describe how the system can be implemented by practitioners.Abstract:
Asserts that there are two approaches to successful database marketing: cognitive and behavioral analysis. In this way, marketers can garner a clear understanding of what customers and prospects “look like”. Reviews the processes involved in database marketing. Suggests to marketers the best processes to adopt. Describes the advantages of the mathematical computation RFM (recency, frequency, and monetary value) in consumer behavioral analysis. Provides a description of how the system can be implemented by practitioners.read more
Citations
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Journal ArticleDOI
Integrating AHP and data mining for product recommendation based on customer lifetime value
Duen-Ren Liu,Ya-Yueh Shih +1 more
TL;DR: This work developed a novel product recommendation methodology that combined group decision-making and data mining techniques and demonstrated that the approach outperformed one with equally weighted RFM and a typical collaborative filtering method.
Journal ArticleDOI
Knowledge discovery on RFM model using Bernoulli sequence
TL;DR: A comprehensive methodology to discover the knowledge for selecting targets for direct marketing from a database is introduced, using Bernoulli sequence in probability theory to derive out the formula that can estimate the probability that one customers will buy at the next time, and the expected value of the total number of times that the customer will buy in the future.
Journal ArticleDOI
Segmentation approaches in data mining: a comparison of rfm, chaid, and logistic regression
John A. McCarty,Manoj Hastak +1 more
TL;DR: It is found that CHAID tends to be superior to RFM when the response rate to a mailing is low and the mailing would be to a relatively small portion of the database, however, RFM is an acceptable procedure in other circumstances.
Journal ArticleDOI
The influence of reviewer engagement characteristics on online review helpfulness: A text regression model
Thomas L. Ngo-Ye,Atish P. Sinha +1 more
TL;DR: It is found that both review text and reviewer engagement characteristics help predict review helpfulness, making it possible for social media platforms to dynamically adjust the presentation of those reviews on their websites.
Patent
Adaptive marketing using insight driven customer interaction
TL;DR: In this paper, a system and method for adaptive marketing using insight driven customer interaction is presented, which uses a closed-loop process for developing insight that may be used to refine further customer interactions.
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Integrating AHP and data mining for product recommendation based on customer lifetime value
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