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RFM is a method used for analyzing customer value and segmenting customers which is commonly used in database marketing and direct marketing. It has received particular attention in the retail and professional services industries. [1] RFM stands for the three dimensions: Recency – How recently did the customer purchase?
Marketing research is the systematic gathering, recording, and analysis of qualitative and quantitative data about issues relating to marketing products and services. The goal is to identify and assess how changing elements of the marketing mix impacts customer behavior.
Market research is an organized effort to gather information about target markets and customers. It involves understanding who they are and what they need. [1] It is an important component of business strategy [2] and a major factor in maintaining competitiveness.
Price optimization utilizes data analysis to predict the behavior of potential buyers to different prices of a product or service. Depending on the type of methodology being implemented, the analysis may leverage survey data (e.g. such as in a conjoint pricing analysis [7]) or raw data (e.g. such as in a behavioral analysis leveraging 'big data' [8] [9]).
The Price Sensitivity Meter (PSM) is a market technique for determining consumer price preferences. It was introduced in 1976 by Dutch economist Peter van Westendorp . The technique has been used by a wide variety of researchers in the market research industry.
The two view outputs may be joined before presentation. The rise of lambda architecture is correlated with the growth of big data, real-time analytics, and the drive to mitigate the latencies of map-reduce. [1] Lambda architecture depends on a data model with an append-only, immutable data source that serves as a system of record.
Research [1] and literature [2] on concurrency testing and concurrent testing typically focuses on testing software and systems that use concurrent computing.The purpose is, as with most software testing, to understand the behaviour and performance of a software system that uses concurrent computing, particularly assessing the stability of a system or application during normal activity.
The market research approach, Mind Genomics (MG), is an application of Conjoint Analysis (CA). CA is carried out to evaluate consumer acceptance, presenting them with a set of product attributes and assessing their preferences for different attribute combinations by estimating the utility scores for different attribute levels.