AN ADAPTED PATTERN FOR CUSTOMER SEGMENTATION IN RETAIL BANKING BASED ON CUSTOMER LIFETIME VALUE

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GHOLAMIAN MOHAMMAD REZA; NIKNAM ZAHRA

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Journal Paper

Paper Information

Journal: JOURNAL OF THE FACULTY OF HUMANITIES AND SOCIAL SCIENCES Year:2012 | Volume:4 | Issue:7 Page(s): 59-76

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Information Journal Paper

Title

AN ADAPTED PATTERN FOR CUSTOMER SEGMENTATION IN RETAIL BANKING BASED ON CUSTOMER LIFETIME VALUE

Author(s)

GHOLAMIAN MOHAMMAD REZA | NIKNAM ZAHRA | Issue Writer Certificate

Keywords

CUSTOMER LIFETIME VALUEQ2

SEGTMENTATION OF CUSTOMERQ2

BANKINGQ1

RFM MODELQ1

DATA MININGQ2

Abstract

Using the tools under the title of "customer scoring" drives the organizations to have their 1110stefforts in focusing for identification, acquisition and retention the customers, with high profitability. The Customers Lifetime Value (CLV) could be an appropriate framework in that respect, as valuing criteria of the customers. The main purpose of this paper is present, an adapted pattern for segmentation of customers in the retail BANKING industry based on RFM reference model. This research is formed based on the famous CRISP_DM methodology. The methodology of research is descriptive survey and after presenting the model, segmentation and ranking are done with the checking account information of some of the customers in one of the private banks with regards to the presented model and the reference model and through the cluster quality function the preference of the presented model, as compared to the principle model is shown. Finally an example of application of customer segmentation for analysis of the customer's behavior of each segment and proposed strategies will be presented.

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APA: Copy

GHOLAMIAN, MOHAMMAD REZA, & NIKNAM, ZAHRA. (2012). AN ADAPTED PATTERN FOR CUSTOMER SEGMENTATION IN RETAIL BANKING BASED ON CUSTOMER LIFETIME VALUE. JOURNAL OF THE FACULTY OF HUMANITIES AND SOCIAL SCIENCES, 4(7), 59-76. SID. https://sid.ir/paper/150896/en

Vancouver: Copy

GHOLAMIAN MOHAMMAD REZA, NIKNAM ZAHRA. AN ADAPTED PATTERN FOR CUSTOMER SEGMENTATION IN RETAIL BANKING BASED ON CUSTOMER LIFETIME VALUE. JOURNAL OF THE FACULTY OF HUMANITIES AND SOCIAL SCIENCES[Internet]. 2012;4(7):59-76. Available from: https://sid.ir/paper/150896/en

IEEE: Copy

MOHAMMAD REZA GHOLAMIAN, and ZAHRA NIKNAM, “AN ADAPTED PATTERN FOR CUSTOMER SEGMENTATION IN RETAIL BANKING BASED ON CUSTOMER LIFETIME VALUE,” JOURNAL OF THE FACULTY OF HUMANITIES AND SOCIAL SCIENCES, vol. 4, no. 7, pp. 59–76, 2012, [Online]. Available: https://sid.ir/paper/150896/en

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