Recency

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.

Project Management Made Easy

Project Management Made Easy

What you need to know about… Project Management Made Easy! Project management consists of more than just a large building project and can encompass small projects as well. No matter what the size of your project, you need to have some sort of project management. How you manage your project has everything to do with its outcome.

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