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RFM in Business Strategy

RFM Analysis For Successful Customer Segmentation Analysis RFM in Big Data RFM (Recency, Frequency, Monetary) analysis is a proven marketing model for behavior based customer segmentation. It groups customers based on their transaction history – how recently, how often and how much did they buy. RFM helps divide customers into various categories or clusters to identify customers who are more likely to respond to promotions and also for future personalization services. RFM analysis evaluates which customers are of highest and lowest value to an organization based on purchase recency, frequency, and monetary value, in order to reasonably predict which customers are more likely to make purchases again in the future. What are Recency, Frequency and Monetary? ·         Recency      : How much time has elapsed since a customer’s last activity or transaction with the brand. ·     ...

Big Data in Businesses

Big Data  is simply the collection, processing, and analysis of huge data sets from traditional or digital means which deliver business intelligence for companies to enhance their services or create a new competitive advantage. Raw data which provides at best basic information is generated at an alarming rate of multiplication since 2000. This is fuelled by the emergence of social media and the proliferation of mobile devices leading to mobile computing.  The crucial challenge for long-term survival and relevance for every business is to convert information to insight and finally to intelligence as quickly and efficiently as possible. Businesses and Big Data Analytics         Big Data analytics tools and techniques are rising in demand due to the use of Big Data in businesses. Organizations can find new opportunities and gain new insights to run their business efficiently.  These tools help in providing meaningful information for making ...

E-Commerce Regulation

Regulation of E-Commerce in Indonesia Has Been Regulated in the Trade Law T he rapid development of information and communication technology especially the internet and smartphones opens up new business opportunities. One of the new businesses is e-commerce. E-commerce (electronic commerce) is an understanding of buying and selling goods / services or transmitting funds / data through electronic networks, especially the internet. E-commerce itself is experiencing very rapid growth in Indonesia. It is known that the total market value of Indonesian e-commerce in mid-2013 to January 2014 is predicted by Vela Asia and Google will reach USD 8 billion and is predicted to continue to increase to reach USD 24 billion. Visa estimates that online shopping in Indonesia will grow 40% this year and 53% next year, from 23% last year. Considering the rapid growth of e-commerce, the government has made regulations related to E-commerce that have been regulated in Law Number 7 of 2014 concerning...

What Is E-COMMERCE

Ecommerce, also known as electronic commerce or internet commerce, refers to the buying and selling of goods or services using the internet, and the transfer of money and data to execute these transactions. Ecommerce is often used to refer to the sale of physical products online, but it can also describe any kind of commercial transaction that is facilitated through the internet. The history of ecommerce begins with the first ever online sale: on the August 11, 1994 a man sold a CD by the band Sting to his friend through his website NetMarket, an American retail platform. This is the first example of a consumer purchasing a product from a business through the World Wide Web or “ecommerce” as we commonly know it today. Ecommerce enables you to buy and sell products on a global scale, twenty-four hours a day without incurring the same overheads as you would with running a brick and mortar store. For the best marketing mix and the best conversion rate, an Ecommerce venture should al...

benefits of online shopping

Benefits of Online shopping Online shopping is the activity or action of buying products or services over the Internet. It means going online, landing on a seller’s website, selecting something, and arranging for its delivery. The buyer either pays for the good or service online with a credit or debit card or upon delivery . Benefits of online shopping :     Convenience . There are no lines to wait in or cashiers to track down to help you with your purchases, and you can do your shopping in minutes. Online shops give us the opportunity to shop 24/7       Better prices. Cheap deals and better prices are available online, because products come to you direct from the manufacturer or seller     More variety .  The choices online are amazing. You can find almost any brand or item you're looking for. You can get in on the latest international trends without spending a lot of money.     No crowds . If you are like me, you hate c...

Benefits and Advantages of E-Commerce for Consumers

With the existence of e-commerce among the community, certainly brings many benefits to the consumers. E-commerce as an online shopping center that can be reached all circles and all goods and services that we will buy must be complete and exist in e-commerce. E-commerce can be seen greatly facilitate life and relieve human activity. Then below I have outlined some benefits and advantages of e-commerce for consumers: 1.Shopping 24/7 Benefits of E-commerce this one is very helpful for consumers in checking, planning, or direct purchases, or ordering services or goods in certain businesses. In contrast to stores that usually close at curfew like bookstores which only open from 9am to 9pm. Online bookstores can be opened for checking and purchasing 24 hours for 7 days or non-stop. Because human needs are endless and unpredictable, then we can spend 24 hours non-stop is very useful for the benefit of humans, especially if there is a sudden need. Fun and useful not for consumers...

Social Responsibility in the Information Age

Humans today cannot escape the use of information technology. Everyone must have held their own gadget. In every place and time, such as in a train or waiting for a bus at a definite stop that is done by most people today is busy with their respective cellphones. This shifts the position of books, newspapers, and magazines as information delivery media that were previously the priority of people. The existence of gadgets is more perfect because it provides many features and applications that satisfy users. However, is the gadget really used to find and read information? The fact is not all of them do that. The majority of today's people are even more interested in opening social media and reading posts or tricks from social media. In a world like this, the global community is influenced by the flow of information spread on the internet, especially social media. The social responsibility for the degree to which humans respond to all information that enters. The response is in th...