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rfmsegmentation's Introduction

Marketing Project - RFM Segmentation

Outline

  • Business Understanding
  • Modelling Workflow
  • Data Pipelines
  • EDA
  • Preprocessing
  • Clustering
  • Business Recommendation

Business Objective

  • Enhanced Customer Understanding: RFM segmentation helps in categorizing customers based on their recent interactions (Recency), frequency of transactions (Frequency), and the monetary value of those transactions (Monetary Value). By applying RFM segmentation to the collected data, Company CoM can gain a more nuanced understanding of different customer groups and their behaviors.
  • Strategic Planning: The insights gained from RFM segmentation can inform the overall marketing strategy for the coming year.

Problem Statements

  • What are the inputs? based on scanner input there is records: recency, frequency, and monetary.
  • What are the outputs? Customer Segments
  • What do we do with the segmentation? The marketing team will strategize for maximizing company revenue by tailoring their approach to each segment identified through RFM analysis.

Results

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