Hi,
Thanks for your shared project I have some questions and hope to get the answer from a data scientist.
The steps I've done are:
After defining the value of each parameter of R, F, M (for a typical customer r=3,f=4,m=3, RFM score=343) for 30k customers and combining these values. A 3-digit scores are sorted from highest value to lowest value.
The step I don't understand is why should I divide the sorted list or array into quartiles, quintiles, or other divisions.
Another question is am should do that with a sorted list based on RFM scores or other Parameters.
I mean the list should be sorted by preferred value(R, F, or M) value or the final score of each customer?
Are there any other methods to analyze the RFM score of customers?
Thanks
Hi,
Thanks for your shared project I have some questions and hope to get the answer from a data scientist.
The steps I've done are:
After defining the value of each parameter of R, F, M (for a typical customer r=3,f=4,m=3, RFM score=343) for 30k customers and combining these values. A 3-digit scores are sorted from highest value to lowest value.
The step I don't understand is why should I divide the sorted list or array into quartiles, quintiles, or other divisions.
Another question is am should do that with a sorted list based on RFM scores or other Parameters.
I mean the list should be sorted by preferred value(R, F, or M) value or the final score of each customer?
Are there any other methods to analyze the RFM score of customers?
Thanks