For this reason, it is highly recommended that another set of data be used to validate the results of the RFM segmentation process.
Advocates of this technique point out that it has the virtue of simplicity: no specialized statistical software is required, and the results are readily understood by business people.
[4] RFD – Recency, Frequency, Duration is a modified version of RFM analysis that can be used to analyze consumer behavior of viewership/readership/surfing oriented business products.
[5] RFMTC – Recency, Frequency, Monetary Value, Time, Churn rate is an augmented RFM model proposed by Yeh et al.
This model has been implemented by Alexandros Ioannidis for datasets such as the Blood Transfusion and CDNOW data sets.