Using Data Analytics for Customers Segmentation: Experimental Study at a Financial Institution

2018 59th International Scientific Conference on Information Technology and Management Science of Riga Technical University (ITMS 2018) 2018
Pāvels Gončarovs

The customer segmentation divides customers into groups according to a range of different characteristics. It is necessary to understand the customers from different angles. The paper describes a five steps customer segmentation method consisting of gathering of quantitative information; creating specific microsegments; sorting microsegments; creating final customer segments; and linking the segments to marketing. The method is used for customer segmentation at a financial institution. The experimental studies conducted specifically focus on interactions between customer area-specific micro segmentations and final all-round customer segmentation. The final segmentation results are integrated in business intelligence applications for utilization in marketing operations.

Keywords
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DOI
10.1109/ITMS.2018.8552951
Hyperlink
https://ieeexplore.ieee.org/document/8552951

Gončarovs, P. Using Data Analytics for Customers Segmentation: Experimental Study at a Financial Institution. In: 2018 59th International Scientific Conference on Information Technology and Management Science of Riga Technical University (ITMS 2018), Latvia, Riga, 10-12 October, 2018. Piscataway: IEEE, 2018, pp.25-29. ISBN 978-1-7281-0099-9. e-ISBN 978-1-7281-0098-2. Available from: doi:10.1109/ITMS.2018.8552951

Publication language
English (en)