This is the Recency of customer action, e.g. purchase, site visit, account access, e-mail response, e.g. 3 months ago. Novo (2003) stresses the importance of recency when he says:

Recency, or the number of days that have gone by since a customer completed an action (purchase, log-in, download, etc.) is the most powerful predictor of the customer repeating an action ... Recency is why you receive another catalogue from the company shortly after you make your first purchase from them.

Online applications of analysis of recency include: monitoring through time to identify vulnerable customers, scoring customers to preferentially target more responsive customers for cost savings.

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