Market Segment Based On Customer Analytics: An Approach On The S Bank’s Big Data (Vietnam)
Journal Title: International Journal of Multidisciplinary Research and Analysis - Year 2022, Vol 5, Issue 09
Abstract
With the source of big data extracted from the S Bank, the sample of 3,527 customers with 130,000 transactions is employed in the study. Based on the RFM approach plus the mathematic method of K-means analysis taken into account, five market segments are found, such as: spender group (38.8%), shopper group (10.3%), frequent group (14.8%), uncertain group (27.5%), and best group (8.5%). The derived client segmentation is focused on transaction functionality. This finding contributes to the planning, on the basis of its transaction, of a system for segmenting customers to estimate the potential value of the various segments of customers in the bank, in particular for the retail banking sector. In addition, empirical research findings may provide feedback on marketing strategies, develop promotional programs to introduce new products for each category, and stimulate the most profitable consumer group's consumption.
Authors and Affiliations
Tu Van Binh, Ngo Giang Thy
Keywords
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- EP ID EP709497
- DOI 10.47191/ijmra/v5-i9-27
- Views 62
- Downloads 0
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