Q2. RFM ClusteringUnsolvedUsing hints is now penalty freeUse HintWhich of the following statements is not true about the RFM clustering model?It focuses on..Choose the correct answer from below:Your score for this problem will be decided based on your FIRST SUBMISSION ONLYHow much money does a customer spend?How long have they been shopping with us?How often do they shop?When did they last purchase something?
Question
Q2. RFM ClusteringUnsolvedUsing hints is now penalty freeUse HintWhich of the following statements is not true about the RFM clustering model?It focuses on..Choose the correct answer from below:Your score for this problem will be decided based on your FIRST SUBMISSION ONLYHow much money does a customer spend?How long have they been shopping with us?How often do they shop?When did they last purchase something?
Solution
The statement that is not true about the RFM (Recency, Frequency, Monetary) clustering model is: "How long have they been shopping with us?"
RFM model does not consider the duration of the customer's relationship with the business. It only focuses on the recency of the customer's last purchase, the frequency of the customer's purchases, and the monetary value of the customer's purchases.
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