Steps to do RFM Analysis for Transactions data in CO within Oracle Service Cloud
SummaryRFM Analysis for Transactions in Oracle Service Cloud [RightNow]
RFM [Recency, Frequency, and Monetary] analysis is an effective measurement to identify customer’s purchase or transactional behavior. By referring the report outcome, Marketer can easily segment loyal, average and lost a customer. Using this information, a marketer can target the right customer with the right campaign information to retain them and reduce churn rate. RFM analysis is helpful to identify the customer who is all in churning stage as well.
Use Case and Business Need:
For this analysis, I have used the transaction data of a transport company where passengers transport on their public fleet. Attached below is the sample export and report definition for better understanding.