Market Segmentation of EFTPOS Retailers
نویسندگان
چکیده
Almost all the papers on market segmentation modeling using retail transaction data reported in the literatures deal with finding groupings of customers. This paper proposes the application of clustering techniques on finding groupings of retailers who use the Electronic Funds Transfer at Point Of Sale (EFTPOS) facilities of a major bank in Australia in their businesses. The RFM (Recency, Frequency, Monetary) analysis on each retailer is used to reduce the large data set of customer purchases through the EFTPOS network into attributes that may explain the business activities of the retailers. Preliminary results show that groupings of retailers with distinct combinations of RFM values can be established which encourage further modeling using other business and demographic attributes on bigger data set over a longer period of time.
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