An RFM Analysis Is a

question 96

Multiple Choice

An RFM analysis is a

• A) data-mining system.
• B) way of recording an individual customer's spending habits.
• C) way of analyzing and ranking customers according to their purchasing patterns.
• D) way of recording a customer's most recent purchases.
• E) way of analyzing a customer's most recent purchases.

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Definitions:

Conformance

Adherence to a set of standards, specifications, or regulations designed to ensure quality and compliance in products or services.

Capital Equipment

Long-term assets, such as machinery or buildings, used in the production of goods or services.

Final Cost

The total amount of expenses incurred at the completion of a project or the production of a good, inclusive of all charges and adjustments.

Capital Items

Long-term assets acquired for the purpose of generating income, not intended for resale in the normal course of business.