To conduct an RFM analysis, each customer is classified on a 1-5 scale on recency, frequency, and

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To conduct an RFM analysis, each customer is classified on a 1-5 scale on recency, frequency, and monetary value. A score of 5, for example, is given on recency if a customer ranks in the top 20 percent on recency, and a score of 1 is given if the customer ranks in the bottom 20 percent on recency.

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