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Course Description

Improvements in marketing practices in recent decades have had a significant impact on productivity, driven by the increasing efficiency and relevance of customer data collection. Leveraging that data effectively, however, requires that marketing efforts are directed only toward those who are likely to respond, rather than casting as wide a net as possible. Yet to target the right customers, you have to know who they are, which requires that customer data is leveraged such that relevant behaviors can be identified, differentiated, and understood at a granular level. Only then can the value they provide be classified and segmented, allowing for productive management of customers based on those characteristics.

In this course, you will explore RFM (recency, frequency, and monetary value) analysis as a means to classify customer purchase behavior characteristics indicative of a likely response to marketing efforts. You will go from identifying the implicit purpose and value of RFM metrics and workflow to developing and assessing the performance of response models with respect to profitability. Along the way, you will evaluate the pros and cons of RFM analysis in the real world.

The following courses are required to be completed before taking this course:

  • Leveraging Customers for Growth
  • A/B Testing and Analytics

Faculty Author

Young-Hoon Park

Benefits to the Learner

  • Explore RFM analysis
  • Implement RFM analysis
  • Apply RFM analysis to customer targeting

Target Audience

  • Marketers
  • Marketing and business analysts
  • Managers using data insights to make business decisions

Applies Towards the Following Certificates

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Enroll Now - Select a section to enroll in
Type
2 week
Dates
Nov 27, 2024 to Dec 10, 2024
Total Number of Hours
16.0
Course Fee(s)
Contract Fee $100.00
Type
2 week
Dates
Feb 05, 2025 to Feb 18, 2025
Total Number of Hours
16.0
Course Fee(s)
Contract Fee $100.00
Type
2 week
Dates
Mar 19, 2025 to Apr 01, 2025
Total Number of Hours
16.0
Course Fee(s)
Contract Fee $100.00
Type
2 week
Dates
May 14, 2025 to May 27, 2025
Total Number of Hours
16.0
Course Fee(s)
Contract Fee $100.00
Type
2 week
Dates
Jul 09, 2025 to Jul 22, 2025
Total Number of Hours
16.0
Course Fee(s)
Contract Fee $100.00
Type
2 week
Dates
Sep 03, 2025 to Sep 16, 2025
Total Number of Hours
16.0
Course Fee(s)
Contract Fee $100.00
Type
2 week
Dates
Oct 29, 2025 to Nov 11, 2025
Total Number of Hours
16.0
Course Fee(s)
Contract Fee $100.00
Type
2 week
Dates
Dec 24, 2025 to Jan 06, 2026
Total Number of Hours
16.0
Course Fee(s)
Contract Fee $100.00
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