RFM analysis on E-Commerce Data which are actual transactions from an UK retailer.
RFM modelling is a marketing analysis technique used to evaluate a customer's value. The RFM model is based on three factors:
Recency: How recently a customer has made a purchase
Frequency: How often a customer makes a purchase
Monetary Value: How much money a customer spends on purchases An RFM model comes up with numeric values for the three measures above. These values help companies better understand customer potential.
E-Commerce Dataset in used which can be downloaded from the following link.
Make sure you have a Python IDE installed on your device, along with the Pandas library.