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INTERNATIONAL JOURNAL OF SCIENTIFIC DEVELOPMENT AND RESEARCH International Peer Reviewed & Refereed Journals, Open Access Journal ISSN Approved Journal No: 2455-2631 | Impact factor: 8.15 | ESTD Year: 2016 open access , Peer-reviewed, and Refereed Journals, Impact factor 8.15 |
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| Paper Title: | BUSINESS CUSTOMER CLASSIFICATION |
| Authors Name: | Debajyoti Kumar Sadhukhan , Aniruddha Biswas |
| Unique Id: | IJSDR2305319 |
| Published In: | Volume 8 Issue 5, May-2023 |
| Abstract: | The objective of this project is to identify the factors that impact customer engagement and retention in the insurance industry using IBM Watson Marketing data. The analysis involves exploratory data analysis, hypothesis testing, two-sample testing, paired testing, and machine learning models such as decision trees, logistic regression, SVM, Naive Bayes, and KNN. The results of the analysis indicate that customer lifetime value, income, and monthly premium auto were the most significant factors impacting customer engagement. Furthermore, customers who purchased policies online and those who had been with the company for more than a year were more likely to renew their policies. Based on the findings, recommendations were made to the business, which included improving customer lifetime value, offering online policies, and implementing retention programs for customers who have been with the company for less than a year. The insights from the analysis can be used to create targeted marketing campaigns for customers based on their attributes, such as income and monthly premium auto. Overall, the project provided valuable insights into the factors that impact customer engagement and retention in the insurance industry. By implementing the recommendations, the business can improve customer engagement and ultimately increase customer retention and revenue. |
| Keywords: | Machine Learning, SVM, KNN, Customer classification |
| Cite Article: | "BUSINESS CUSTOMER CLASSIFICATION ", International Journal of Science & Engineering Development Research (www.ijsdr.org), ISSN:2455-2631, Vol.8, Issue 5, page no.2020 - 2023, May-2023, Available :http://www.ijsdr.org/papers/IJSDR2305319.pdf |
| Downloads: | 000337074 |
| Publication Details: | Published Paper ID: IJSDR2305319 Registration ID:206429 Published In: Volume 8 Issue 5, May-2023 DOI (Digital Object Identifier): Page No: 2020 - 2023 Publisher: IJSDR | www.ijsdr.org ISSN Number: 2455-2631 |
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