Customer Analytics for New Product Development Overview Analytical approach to come up with the target market segment with specific attributes & identify the desired features for a new product formulation. Solution Approach Applying various segmentation approaches like - Factor Segmentation, Neural networks, CHAID (chi-square automatic interaction detection), K - means Clustering, etc - we could come up with the target customer segments & the attributes. We applied the market basket analysis to zero on some of the identified products Advantages In today's highly customized world, it's an absolute must to identify the niche customer segment in order to get the desired ROI on a new product. We need to keep improving the product/services as per customer preferences. Latest Blogs 11Jan 2022 Document Automation and Its Benefits 11Jan 2022 Machine Learning in Finance Industry 24Nov 2021 Face Recognition: A Modern Way of Security
Customer Analytics for New Product Development Overview Analytical approach to come up with the target market segment with specific attributes & identify the desired features for a new product formulation. Solution Approach Applying various segmentation approaches like - Factor Segmentation, Neural networks, CHAID (chi-square automatic interaction detection), K - means Clustering, etc - we could come up with the target customer segments & the attributes. We applied the market basket analysis to zero on some of the identified products Advantages In today's highly customized world, it's an absolute must to identify the niche customer segment in order to get the desired ROI on a new product. We need to keep improving the product/services as per customer preferences.