A Determining Approach for Customer Behavior Analysis Using K-Mean Clustering

In any industry, the first step to finding and creating profitable customers is determining what drives profitability. This leads to better prospecting and more successful customer relationship management. Any company can segment and profile their customer base to uncover those profit drivers using the knowledge of their customers, products, and markets. Or they can use data-driven techniques to find natural clusters in their customer or prospect base. Whatever the method, the process will lead to knowledge and understanding that is critical to maintaining a competitive edge. Analyzing consumer behavior is a costly implementation of sophisticated information technology, which requires detailed planning and business knowledge for successful adoption. The current trend on consumer behavior analysis has been recognized on the business problem rather than on the information technology.