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Activity Number: 118
Type: Contributed
Date/Time: Monday, August 3, 2009 : 8:30 AM to 10:20 AM
Sponsor: Section on Statistics and Marketing
Abstract - #305073
Title: Discovering the Banking Customer Groups with Similar Financial Products
Author(s): Bin Zhang*+ and Jin Yan Shao and Ming Xie and Li Xia and Wenjun Yin and Jin Dong
Companies: IBM China Research Laboratory and IBM China Research Laboratory and IBM China Research Laboratory and IBM China Research Laboratory and IBM and IBM China Research Laboratory
Address: Diamond Building, Zhongguancun Software Park, Beijing, International, 100193, China
Keywords: Customer behavior ; Clustering
Abstract:

In this paper, we study the features of banking customers with their financial products in China. Retail banks always want to know what people have purchased what types of financial products to guide their marketing strategy. We collected more than 2000 people with their profiles and the purchased products. The profile is the background information of those people, e.g. age, income level, and job type. The products are the financial product/services they have purchased from banks, e.g. saving, loan, credit cards, fund, stock, etc. Based on the data, we find the features of those people who have same products. We divide the people into several groups to make people in each group can have similar financial products, and conclude the features for each customer group.

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