Building data-driven segmentations is one of the core things we do at Python Predictions. The tendency towards more personalised marketing and to better understand customers, puts a data-driven segmentation at the core of a company’s action plan.
Is your segmentation based on facts or intuition?
Many companies have segmentations in place that are mainly based on their business expertise instead of on data. While they can help to design a strategic or marketing plan, they do not fully represent real client behaviour, and it is often difficult to link the segments to individual customers. This makes it difficult to make the segmentation come to life.
Let algorithms draw the contours
There is an alternative way of segmenting. One that puts your customer’s data at the core and where algorithms draw the contours of your segments. These algorithms are designed to cluster customers that are very similar within each group, but very different across different groups.
We make sure the contours are filled in accordingly, so the composition of segments makes sense for business. Finally, you get to know everything there is to know about your groups of customers through nice profiling cards.
Segmentations are mainly, but not only, built within a marketing context. We’ve successfully delivered segmentations across a wide variety of industries such as telco, banking, retail and utilities.