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Recency Frequency Monetary Value (RFM)

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Recency Frequency Monetary Value (RFM) - recency frequency monetary value (RFM) is used to define mailing list selection criteria such as how much time has lapsed since a customer's last purchase, how often a customer purchased, and the average amount spent by a customer.

Source: NextMark, 18 August 2009 11:37:34, www.nextmark.com/ Externalindex/definition.jsp?glossaryTermId=a0800000000EqOgAAK

Data Quality Glossary.  A free resource from GRC Data Intelligence. For comments, questions or feedback: dqglossary@grcdi.nl