CVM Model of Customer Purchasing Behavior Based on Clustering Analysis

DOI

10.2991/assehr.k.211209.328How to use a DOI?

Keywords

Customer segmentation; Customer value measures; Data mining; k-means clustering

Abstract

At this time, companies progressively gain revenue from their long-term relationship customers. Many online retailers are earger to practice data analysis and CVM in businesses. However, many companies lack expertises to do so. This paper will present how to use data analysis in business cases. The main idea is to teach many executives how to have a better understand for their customer and therefore in their future progress they can be more producive to make decisions. On account of model built in this paper, customers were segmented into various meaningful groups using the k-means clustering algorithm. The main traits of these consumers in each part have been pointed out. Consequently, a set of recommendations is further provided to the business on consumer marketing.

Copyright

© 2021 The Authors. Published by Atlantis Press International B.V.

Open Access

This is an open access article under the CC BY-NC license.

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TY  - CONF
AU  - Rui Zhao
PY  - 2021
DA  - 2021/12/15
TI  - CVM Model of Customer Purchasing Behavior Based on Clustering Analysis
BT  - Proceedings of the 2021 3rd International Conference on Economic Management and Cultural Industry (ICEMCI 2021)
PB  - Atlantis Press
SP  - 2014
EP  - 2017
SN  - 2352-5428
UR  - https://doi.org/10.2991/assehr.k.211209.328
DO  - 10.2991/assehr.k.211209.328
ID  - Zhao2021
ER  -