Business Problem :
An e-commerce company wants to segment its customers and determine marketing strategies according to these segments.
RFM : Recency, frequency, monetary value used to identify organization’s best customers by measuring and analyzing spending habits.
Data Set :
Online Retail II data set includes the sales of a UK-based online store between 01/12/2009 – 09/12/2011.
InvoiceNo – Invoice Number
If this code starts with C, it means that the operation has been cancelled.
StockCode – Product code Unique number for each product.
Description – Product name
Quantity – Number of products
It expresses how many of the products on the invoices have been sold.
InvoiceDate – Invoice date
UnitPrice – Invoice price (Sterling)
CustomerID – Unique customer number
Country – Country name