Six Sigma Methodology With Recency, Frequency and Monetary Analysis Using Data Mining
Data Mining methods provide a lot of opportunities in the market sector. This paper deals with Data Mining algorithms and methods (especially RFM analysis) and their use in Six Sigma methodology, especially in DMAIC phases. DMAIC stands for Define, Measure, Analyze, Improve and Control. The authors' research is focused on improvement of Six Sigma phases (DMAIC phases). With implementation of RFM analysis (as a part of Data Mining) to Six Sigma (to one of its phase), they can improve the results and change the Sigma performance level of the process.