Customer Segmentation and Profiling for Retail Business
About Client
The client is the owner of a popular retail store, selling multiple things. Being a retail business, they have a widespread customer base that purchases different products at different times.
Since they have a large customer base, they were interested in knowing about customer behavior, preferences, and interests from their large data sets.
Client's Business Goals
They wanted a software solution that could overcome these challenges and implement a clustering analysis solution that could help them with customer segmentation.
Challenges
There were some key challenges that needed focus
Customer segmentation on huge datasets of information based on Demographics (age, gender) Geography (local, city, state, regional) Behavioristic (customer’s buying habits/behavior/patterns)
Analysis of customer preferences and purchase history
Our Solution
Understanding the challenges of the client, SPEC INDIA facilitated the client by designing and developing a clustering algorithm and K-means algorithm for customer segmentation.
Analysis of data set with an exploratory data analysis approach
Identification of most important features based on statistical tests
Application of machine learning clustering
Evaluation of clustering with different methods like Partitioning, Hierarchical, Fuzzy, Density, and Model-based
Finding the most important customer clusters and making business plan recommendations
Want to Know Customer Behavior For your Business.
Get Critical Data related to age, gender, and preferences of the shoppers and driving decisions and predictions by collating with Business Intelligence & Analytics.
Technologies & Tools
Our Process
Research/Analysis
Our detailed and accurate research , analysis, and refinement leads to a comprehensive study that describes the requirements, functions, and roles in a transparent manner.
Design
We have a team of creative design experts who are apt at producing sleek designs of the system components with modernized layouts.
Coding
Our programmers are well versed with latest programming languages, tools, and techniques to effectively interpret the analysis and design into code.
Testing
Quality is at the helm of our projects. We leave no stone unturned in ensuring superior excellence and assurance in all our solutions and services.
Launch
We have a well-defined, robust, and secure launch criteria that offers us a successful implementation clubbed with detailed testing, customer acceptance and satisfaction.
Business Benefits
Enhances customer base and work on target areas
Avails customer segmentation based on purchase history, interests, or activity monitoring
Targets specific clusters of customers for specific campaigns
Targets a specific customer segment for promoting their brands and products
Since algorithms are applicable for web, mobile and stores (kiosks), the solution can be extensively leveraged
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