Mining for profitable customers

Author

Xu, Min ; Qiu, Yuhui ; Qiu, Jing

Author_Institution

Fac. of Comput. & Inf. Sci., Southwest China Normal Univ., Chongqing, China

fYear

2003

fDate

28-30 April 2003

Firstpage

640

Lastpage

644

Abstract

Customers are not created equal. However, segmenting customers in terms of their profitability is still an underutilized approach in marketing nowadays. Many E-commerce sites still apply the same customer care to all customers without calculating whether the expected profit from a customer is greater than the marketing cost to her or not. In this paper, a decision theoretic approach to segmenting customers based on a RFM (recency frequency and monetary) model and network value has been proposed here.

Keywords

Web sites; customer profiles; decision theory; electronic commerce; marketing; marketing data processing; E-commerce sites; RFM model; decision theoretic approach; marketing; network value; profitable customers; recency frequency and monetary model; Information technology;

fLanguage

English

Publisher

ieee

Conference_Titel

Information Technology: Coding and Computing [Computers and Communications], 2003. Proceedings. ITCC 2003. International Conference on

Print_ISBN

0-7695-1916-4

Type

conf

DOI

10.1109/ITCC.2003.1197605

Filename

1197605

Link To Document

https://search.isc.ac/dl/search/defaultta.aspx?DTC=49&DC=3435195