Customer purchasing behavior data analysis in a B2B setting
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Journal Title
Journal ISSN
Volume Title
School of Business |
Master's thesis
Authors
Date
2024
Department
Major/Subject
Mcode
Degree programme
Information and Service Management (ISM)
Language
en
Pages
51
Series
Abstract
This thesis explores some common topics in customer purchasing behavior and data analytics around it. It has been discussed in previous research that customers are often misclassified, leading to poor sales and marketing approaches. Additionally, the B2B point of view receives less attention as most purchasing behavior literature focuses on B2C e-commerce markets. To expand the scope of research around customer purchasing behavior, this thesis aims to solve two research questions. Firstly, buying patterns are investigated to cluster customers into similarly behaving segments based on transactional order data regarding engine spare parts and overhaul services. Secondly, the future potential profitability of the customers is predicted based on a statistical BTYD (Buy ‘til You Die) analysis. The findings from these research questions are then combined to form cohesive conclusions for the case company’s further sales activities. Based on the clustering analysis, the case company does appear to have distinctively different customers when it comes to purchasing behavior. This data-based clustering should be taken into consideration, as there also seems to be correlation to future sales potential. Together, the clustering analysis and predictions for the future customer values provide a sound guideline regarding which customers to focus on.Description
Thesis advisor
Malo, PekkaKeywords
B2B, customer buying behaviour, clustering, data analysis