ABSTRACT
The marketing domain has a long tradition of employing quantitative models to elicit and support decision making. For example, the well-known RFM (recency, frequency, monetary value) model has been used for decades by mail-order companies and charity organizations for targeting purposes (for example, Bauer, 1988). Nowadays, companies have access to vast amounts of customer-centric data. The data is gathered internally through a holistic use of information systems to support core business operations, and externally through partnering and exchanging data with suppliers, logistic service providers, and so on to improve efficiency and effectiveness of the overall supply chain. Finally, rich sets of data are collected from direct interactions with customers through various channels. The availability of such data has led to data-driven decision aids becoming ever more prominent in marketing.
