A developing model for clustering and ranking bank customers. (2015)

• Record Type: Journal Article
• Authors: Sajjadi, Khalil; Khatami-Firuzabadi, Mohammad Ali; Amiri, Maghsud; Sadaghiani, Jamshid Salehi
• Is Part Of: International journal of electronic customer relationship management. Volume 9:Number 1(2015)
• Page Start: 73
• Page End: 86
• Publication Date: 2015
• Subjects: customer clustering -- RFMLD model -- SAW ranking -- modelling -- customer ranking -- bank customers -- banking industry -- marketing policies -- loyalty creation -- customer loyalty -- customer retention; Customer relations -- Management -- Data processing -- Periodicals; Electronic commerce -- Periodicals; 658.8120285
• Languages: English
• ISSNs: 1750-0664

Abstract

Nowadays, there are a lot of customer-based companies and organisations, including banks, that are serving to present services and products to customers with different levels. Creating difference for various clusters of customers with ranking approach is done for obtaining different objectives. This paper has tried to cluster and rank the bank customers with developing RFM model from the perspective of facilities and deferred and making RFMLD model. Finally, by doing clustering process, it has put a vast domain of customers with an extensive spectrum into similar groups and has started ranking each cluster through simple weighted way. Explicating marketing policies peculiar to each cluster and determining target customers in private banking, company-based banking, customers club, campaign etc., through loyalty creation and preservation in them is one of this paper's applications.