We are using Clustering Algorithms for creating Retailer Segmentation. Once the retailers are categorized into multiple clusters based on their performance we can target specific clusters for their performance and tracking. To understand the retailer behaviour in a better manner, Payworld Analytics segments the retailers into similar behaving groups for better retailer marketing. Our system segments the retailers on the basis of two important factors namely transaction count and the total sale amount.
Retailer Life Cycle:
Life cycle Modelling is higher level segmentation that represents the different phases a retailer moves through during their relationship with the company. The purpose of segmenting into life cycle stages is to distinguish between different types of retailers and sub-segment them separately.