the main purpose behind this study was to analyze the problems faced by big retail banks during business expansion. this paper analyzes the customers’ transaction patterns, product holdings, demographics, past trends, and other attributes to devise an effective strategy for engaging them further. in a retail bank with various product offerings, the focus should be on customer segmentation and profiling to ensure ease of targeting, marketing, and offering personalized products to retain profitable customers and capturing market share across geographies. continuous variables: box plot statistics have been used to score them between 1 to 4. if the customer falls into the 1st quartile, the customer has scored 1, for quartile 2 score would be 2 and for quartile 3 and 4 scores would be 3 and 4 respectively.
if the customer is having a credit card, that customer would be given 1 else 0. after providing a score to each customer against each variable, we have then assigned the weightages to each variable between -3 to +3. q4 has scored the highest and q1 is having the least total score bracket. if a customer’s is falling in q4 bracket, then the customer would be a profitable one. out of the base of 3184 profitable customers, cluster 1 is having the highest population of customer concentration with a total number of 2199 customers and on the other side cluster 2 is having the least number of customers with a total of 462 customers. these analytical models or techniques (scorecard and clustering) used in this study are generic in nature and not specific to the case in point.
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