Customer segmentation using RFM

What is RFM?
Two years ago, I was talking with a friend of mine about historic data that companies use to enhance their understanding of their customers. My friend told me about a cool model that is used to classify customers. The thing that really got my attention was that this model looks at different aspects in order to evaluate each customer. Usually, companies tend to label customers based on financial aspects, but this model takes things further. Read more...