Wiley & sas business Series

   Recency, Frequency, Monetary Analysis (RFM)  
  A technique commonly used in marketing applications to profi le customer 
spending patterns. It derives a series of variables to identify how recently 
each customer spent money, how frequently they spend money, and how 
much money they spend with the organization in question. 
   Relational Model  
  A type of model that aims to identify relationships of interest and quan-
tify the strength of relationship between individuals or entities. Common 
examples include market basket analysis and social network analysis. 
   Reporting  
  A process by which insight is presented in a visually appealing and infor-
mative manner.