K-Means Clustering empowers businesses to segment customers and enhance marketing strategies effectively. Today, we are pleased to have Khun Jan Kuliga Kitsachoke, a Data Scientist from SCB TechX, who will share five practical steps for implementing customer segmentation in any business. Here’s the approach:
- Define Clusters (K): Determine the number of clusters using methods such as the Elbow or Silhouette Score.
- Select Centroids: Randomly choose the initial centroids for each cluster.
- Group Data: Assign customers to the nearest centroid using Euclidean Distance.
- Recalculate Centroids: Update centroids by averaging the data points within each cluster.
- Repeat: Continue the process until centroids stabilize, ensuring well-formed clusters.
Effective segmentation enables targeted strategies, enhances marketing efforts, and boosts business opportunities.
Lastly, SCB TechX is ready to provide any organization with professional advice, technology solutions, and comprehensive Data Platform services through TechX Data & AI Solutions.
If you are interested, please feel free to contact us at contact@scbtechx.io
Or visit us for more details at https://bit.ly/3QjtHgl
