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OPTIMIZING THE EFFECTIVENESS OF DIRECT MARKETING CAMPAIGNS USING DATA MINING

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Summary
In this article several data mining models, together with the conventional RFM model, are designed and applied for optimizing the effectiveness of direct marketing campaigns. Regardless of its popularity as a means for generating “optimal” target lists, RFM analysis is far from optimal solution. Applied on empirical data for one-year activities of an e-shop of electronic and home appliance technique, all data mining models surpass RFM model in predictive performance.

JEL: -
Pages: 43
Price: 3 Points

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