Experimental Analysis on Banking Customer Segmentation using Machine Learning Techniques

The intent of customer segmentation is primarily to aid institutions to custom-make their marketing techniques and methods to suit the specific requirements of every consumer group. As this helps to solve the segregating of the groups of customers for banks efficiently and helps provide more custom-made services for customers of each group better, applying the customer segmentation for banking data can provide many insights that can be beneficial to banks as well as their customers. This increases the effectiveness of customer interaction and can maximize selling opportunities. It makes marketers more efficient in terms of time, money, and other resources.