a. Cluster Analysis
- Segmentation model for employee attrition management to help in retaining high-performing and/or high-potential employees that are likely to leave
- Retail store customer profiling to identify premium customers and maximize revenues
- Predict insurance policy lapse using data from customer demographics and interactions
- Selecting prospects for a campaign based on likelihood of purchase determined by historical analysis of demographics, purchase behavior, product preferences etc.
c. Association Rules
- Determine products to be positioned for sale to a particular prospect e.g., an insight can be that insurance customers who bought investment linked policy also bought Term Insurance in late 30’s. So these two products can be bundled with a promotional offer for people in late 30s, with an expectation that both will sell.