Customer segmentation is the process of separating your customers into groups based on the trait and factors (e.g. demographics, industry, income) they share. Segmentation offers a simple way of organizing and managing your company’s relationships with your customers. This process also makes it easy to tailor and personalize your marketing, service, and sales efforts to the needs of specific groups. This helps boost customer loyalty and conversions. Customer segmentation has the potential to allow marketers to address each customer in the most effective way. Using the large amount of data available on customers segmentation analysis allows marketers to identify discrete groups of customers with a high degree accuracy based on demographic, behavioural and other indicators. Since the marketer’s goal is usually to maximize the value (revenue and/or profit) from each customer, it is critical to know in advance how any particular marketing action will influence the customer. Ideally, such “action-centric” customer segmentation will not focus on the short-term value of a marketing action, but rather the long-term customer lifetime value (CLV) im-pact that such a marketing action will have. Thus, it is necessary to group, or segment, customers according to their CLV. A python program has been developed and the program is been trained by applying standard scaler onto a dataset having two features of 200 training sample taken from local retail shop. Both the features are the mean of the amount of shopping by customers and average of the customer's visit into the shop annually.
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