Direct Marketing Expert Bob Stone Recommends Using the RFM Formula

question 74

Essay

Direct marketing expert Bob Stone recommends using the RFM formula to identify the best customers.What do the letters "RFM" stand for?

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Definitions:

Double-Precision Expression

A term describing a type of floating-point arithmetic that uses double the number of bits than single-precision, offering greater precision and range.

Modulus

A mathematical operation that finds the remainder when one integer is divided by another.

Remainder Operator

An operator in programming that returns the remainder left over when one operand is divided by a second operand.

Operand

An entity on which operators perform operations, including values, variables, and expressions.