A Novel 3D Clustering Algorithm for Customer Segmentation

Abstract

Today’s world is highly competitive and there is a fight for existence. Every business setup wants to flourish itself and gain maximum profits. The best marketing strategies for luring customers in the most effective manner play a significant role. The stakeholders who need to formulate these marketing strategies must focus on the spending patterns of the customers. Clusters need to be developed and optimized considering their ages, annual income, and spending score. Thus, this paper focusses on segregating customers into different groups or clusters, so that different marketing strategies can be devised for different groups. The work also aims at developing an optimized number of customers. A 3D clustering algorithm is proposed to segment the customers based on their spending patterns using machine learning concepts. The results obtained are highly promising and significantly better when contrasted with others.

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