IRMA-International.org: Creator of Knowledge
Information Resources Management Association
Advancing the Concepts & Practices of Information Resources Management in Modern Organizations

A New Perspective on RFM Analysis

A New Perspective on RFM Analysis
View Sample PDF
Author(s): Mohammad Hasan Aghdaie (Shomal University, Iran)and Parham Fami Tafreshi (Shomal University, Iran)
Copyright: 2018
Pages: 20
Source title: Intelligent Systems: Concepts, Methodologies, Tools, and Applications
Source Author(s)/Editor(s): Information Resources Management Association (USA)
DOI: 10.4018/978-1-5225-5643-5.ch063

Purchase

View A New Perspective on RFM Analysis on the publisher's website for pricing and purchasing information.

Abstract

The aim of this chapter is proposing a novel integrated Fuzzy Group Multiple Attribute Decision Making (FGMADM) and Fuzzy C-Means Clustering (FCM) as a DM tool for segmentation of customers (retailers), based on an updated RFM model. For this purpose, the most important criteria to evaluate retailers from the in depth literature survey and experts' opinion are added to the traditional RFM model. In addition, in order to make the model more efficient, FGMADM approach, in this paper, Fuzzy Group Step-wise Weight Assessment Ratio Analysis (FGSWARA) is used to weight KPIs. Then, FCM is applied to segment customers, based on their purchase behavior (RFM scores). A case study in one of the most famous Fast Moving Consumer Goods (FMCG) companies in Iran illustrated the applicability of the proposed model.

Related Content

Kamel Mouloudj, Vu Lan Oanh LE, Achouak Bouarar, Ahmed Chemseddine Bouarar, Dachel Martínez Asanza, Mayuri Srivastava. © 2024. 20 pages.
José Eduardo Aleixo, José Luís Reis, Sandrina Francisca Teixeira, Ana Pinto de Lima. © 2024. 52 pages.
Jorge Figueiredo, Isabel Oliveira, Sérgio Silva, Margarida Pocinho, António Cardoso, Manuel Pereira. © 2024. 24 pages.
Fatih Pinarbasi. © 2024. 20 pages.
Stavros Kaperonis. © 2024. 25 pages.
Thomas Rui Mendes, Ana Cristina Antunes. © 2024. 24 pages.
Nuno Geada. © 2024. 12 pages.
Body Bottom