Customer Segmentation Using Credit Card Data Analysis

Abstract

Customer segmentation is a separation of a market into multiple distinct groups of consumers who share the similar characteristics. Segmentation of market is an effective way to define and meet Customer needs and also to identify the future business plan. Unsupervised machine learning algorithms are suitable to analyze and identify the possible set of customers when the labeled data about the customers are no available. In this research work the spending of different customers who have credit cards are analyzed to segment them into different clusters and also to plan further business improvements based on the different characteristics of these identified clusters.