Customer analytics (12 articles)

Clustering Kuwaiti consumer attitudes towards Sharia-compliant financial products: a self-organizing maps analysis

Al-Salem, F., & Mostafa, M. M. (2018). International Journal of Bank Marketing.

The connections between sociodemographic background, financial-product quality and attitude towards Sharia-compliant financial products are analyzed for consumers in Kuwait. Viscovery SOMine is used to find clusters of consumers that responded with enthusiasm, sluggishness or rejection , and to provide useful information about these consumer groups.

Egyptian consumers' willingness to pay for carbon-labeled products: a contingent valuation analysis of socio-economic factors

Mostafa, M. M. (2016). Journal of Cleaner Production, 135, 821-828.

This analysis is concerned with estimating the price premium different customer groups are willing to pay for carbon-labeled products. Viscovery SOMine is used to cluster survey data to find similar consumer groups and analyze their willingness to pay for unlabeled and labeled products.

Combining visual customer segmentation and response modeling

Yao, Z., Sarlin, P., Eklund, T., & Back, B. (2014). Neural Computing and Applications, 25(1), 123-134.

The paper explores customer behavior during sales campaigns. A visual, data-driven and efficient framework for customer segmentation and campaign-response modeling is provided. First, the self-organizing map is used for grouping customers according to characteristics of their purchasing behavior. Then, segment migration patterns are linked to this behavioral segmentation model using feature plane representations. This enables visual monitoring of the customer base and tracking of customer behavior before and during sales campaigns.

Business client segmentation in banking using self-organizing maps

Bach, M. P., Juković, S., Dumičić, K., & Šarlija, N. (2014). South East European Journal of Economics and Business, 8(2), 32-41.

The aim of this article is to find clusters of business clients in banking with better product affinity and cross-selling properties than provided by ordinary business-client segmentation. For this purpose, Viscovery SOMine is applied to data about Croatian business clients, including survey data from decision makers and ordinary client characteristics.

Strategic knowledge services — catching the context specific strategic meaning

Vanharanta, H., Magnusson, C., Ingman, K., Holmbom, A.H., & Kantola, J. (2012). In Knowledge Service Engineering Handbook. CRC Press, Taylor and Francis Group.

The aim of this article is to get an overview of the demographics and behavior of department store customers by converting large amounts of customer data into actual knowledge about them. Viscovery SOMine is used to group customers according to their shopping behavior and analyze the underlying demographic information.

The impact of skills and demographics on end-user developers’ use of support

Korvela, H., & Back, B. (2012).

This article studies end-user developers' use of various support sources. Viscovery SOMine is used to create clusters considering several demographic, skill and job-related variables.

Visual decisions in the analysis of customers’ online shopping behavior

Pragarauskaite, J., & Dzemyda, G. (2012). Nonlinear Analysis: Modelling and Control, 17(3), 355-368.

Advertisements and shopping behavior of online shop customers are analyzed. Viscovery SOMine is used to cluster the customer interactions according to the referring advertisement type and channel and analyze the corresponding sales figures.

Combining unsupervised and supervised data mining techniques for conducting customer portfolio analysis

Yao, Z., Holmbom, A. H., Eklund, T., & Back, B. (2010, July). In Industrial Conference on Data Mining (pp. 292-307). Springer, Berlin, Heidelberg.

This paper applies a two-level approach that combines Viscovery SOMine's SOM-Ward clustering and decision trees to conduct customer-portfolio analysis for a case company. The resulting two-level model is then used to identify potential high-value customers from the customer base. This hybrid approach provides detailed and accurate information about the customer base for tailoring actionable marketing strategies.

Shades of green: a psychographic segmentation of the green consumer in Kuwait using self-organizing maps

Mostafa, M. M. (2009). Expert Systems with Applications, 36(8), 11030-11038.

Consumers in Kuwait are analyzed according to their psychographic profile (altruism, skepticism, knowledge, etc.) and their tendency to incorporate ecological values into their buying behavior. Viscovery SOMine is used for visualization, clustering and profiling.

Customer portfolio analysis using the SOM

Holmbom, A. H., Eklund, T., & Back, B. (2008). International Journal of Business Information Systems, 8(4), 396-412.

The purpose of the paper is to illustrate how self-organizing maps can be used for customer portfolio analysis, a category of customer-relation management which serves to identify profitable customers to develop marketing strategies. Customer data were provided by a case company. Viscovery SOMine is used to generate the model, which grouped the customers into segments with similar profiles. The segments are subsequently analyzed in relation to product sales information. The model could potentially be used to adjust marketing efforts to increase the profitability of customers.

Segmenting the market of West Australian senior tourists using an artificial neural network

Kim, J., Wei, S., & Ruys, H. (2003). Tourism Management, 24(1), 25-34.

Neural networks can be used to determine what trade-offs older travelers make as they decide their travel plans. This paper presents a descriptive analysis of neural network methodology and provides a research technique that assesses the weighting of different attributes and uses an unsupervised neural network model created with Viscovery SOMine to describe a consumer–product relationship.

Marketing mix decision making using scanner data and self-organizing maps

Krycha, K. A., & Kranner, G. (1998).

A self-organizing-map application is proposed to address the problem of managing a product line with respect to price decisions. Viscovery SOMine is used for the analysis of price elasticity.