An application of model-based clustering in market segmentation  (Page 2/5)

 Page 2 / 5

Thus, there has been substantial development in marketing research related clustering models and methodology in the past 60 years. During the initial stages of market segmentation research in 1950s, the statistical models proposed depended heavily on existing Operations Research and Management Science methods. These models were either too complicated to be implemented practically or too unrealistic to accurately represent real-world situations. As researchers gained more computing power, models became more realistic and implementable [link] . However, current methods also have some shortcomings. For example, many segmentation models have difficulties capturing the relationship between the exogenous (consumer traits) and the response variables (ex. purchase frequencies and profits) in a segment [link] . Also, even if the model successfully relates segment traits with response, the time-dependent nature of consumer behavior is often ignored. Finally, many of the models involve only one dependent variable. Consider the purchase of printers among different groups of consumers. Such narrowly defined analysis maybe sufficient for, say a printer manufacturer, however, for an electronic store manager deciding how to stock, shelf and promote printers, it is helpful to be able to generalize the analysis to cover electronic products closely related to printers—printing paper, scanners, toners, etc.—since consumers who buy printers are likely to be interested in these products and vice versa. Thus, a multivariate segmentation approach can be more informative and useful.

Model-based clustering

A novel model-based method of clustering TSC was proposed by Thomas, Ray and Ensor [link] , who applied the method to Houston air pollution monitoring data. In the study, air quality monitor stations, represented by time series of pollution readings were clustered to identify regions of the city with similar patterns of pollution. The results from the pollution study were promising and motivate the used of model-based clustering (MBC) in other applications. In this study, our goal is to address the shortcomings of current market segmentation methods by applying MBC to consumer purchase data.

Outline for remainder of the discussion

We will explain MBC in more detail in Section 2. The description of the data is given in Section 3. Ongoing work and project implications are presented in Sections 4 and 5 respectively. Finally directions for future research are laid out in Section 6.

Methodology

The name “model-based clustering” implies two components to the method: the modeling component and the clustering component. An appropriate model is fit to each time series and then a dissimilarity metric based on the likelihood of those models is used to cluster the TCS.

Modeling tsc

A classical model for count data is Poisson regression. Recently, Fokianos and Kedem [link] proposed a model for TSC in the general linear model (GLM) framework which can be called “observation-driven” Poisson regression. In GLM, we model the response $\left\{{Y}_{t},t=1,\cdots ,N\right\}$ as a linear function of the covariates $\left\{{X}_{t},t=1,\cdots ,N\right\}$ . There are two components to a time series following a GLM:

do you think it's worthwhile in the long term to study the effects and possibilities of nanotechnology on viral treatment?
absolutely yes
Daniel
how to know photocatalytic properties of tio2 nanoparticles...what to do now
it is a goid question and i want to know the answer as well
Maciej
Abigail
Do somebody tell me a best nano engineering book for beginners?
what is fullerene does it is used to make bukky balls
are you nano engineer ?
s.
fullerene is a bucky ball aka Carbon 60 molecule. It was name by the architect Fuller. He design the geodesic dome. it resembles a soccer ball.
Tarell
what is the actual application of fullerenes nowadays?
Damian
That is a great question Damian. best way to answer that question is to Google it. there are hundreds of applications for buck minister fullerenes, from medical to aerospace. you can also find plenty of research papers that will give you great detail on the potential applications of fullerenes.
Tarell
what is the Synthesis, properties,and applications of carbon nano chemistry
Mostly, they use nano carbon for electronics and for materials to be strengthened.
Virgil
is Bucky paper clear?
CYNTHIA
so some one know about replacing silicon atom with phosphorous in semiconductors device?
Yeah, it is a pain to say the least. You basically have to heat the substarte up to around 1000 degrees celcius then pass phosphene gas over top of it, which is explosive and toxic by the way, under very low pressure.
Harper
Do you know which machine is used to that process?
s.
how to fabricate graphene ink ?
for screen printed electrodes ?
SUYASH
What is lattice structure?
of graphene you mean?
Ebrahim
or in general
Ebrahim
in general
s.
Graphene has a hexagonal structure
tahir
On having this app for quite a bit time, Haven't realised there's a chat room in it.
Cied
what is biological synthesis of nanoparticles
what's the easiest and fastest way to the synthesize AgNP?
China
Cied
types of nano material
I start with an easy one. carbon nanotubes woven into a long filament like a string
Porter
many many of nanotubes
Porter
what is the k.e before it land
Yasmin
what is the function of carbon nanotubes?
Cesar
I'm interested in nanotube
Uday
what is nanomaterials​ and their applications of sensors.
what is nano technology
what is system testing?
preparation of nanomaterial
Yes, Nanotechnology has a very fast field of applications and their is always something new to do with it...
what is system testing
what is the application of nanotechnology?
Stotaw
In this morden time nanotechnology used in many field . 1-Electronics-manufacturad IC ,RAM,MRAM,solar panel etc 2-Helth and Medical-Nanomedicine,Drug Dilivery for cancer treatment etc 3- Atomobile -MEMS, Coating on car etc. and may other field for details you can check at Google
Azam
anybody can imagine what will be happen after 100 years from now in nano tech world
Prasenjit
after 100 year this will be not nanotechnology maybe this technology name will be change . maybe aftet 100 year . we work on electron lable practically about its properties and behaviour by the different instruments
Azam
name doesn't matter , whatever it will be change... I'm taking about effect on circumstances of the microscopic world
Prasenjit
how hard could it be to apply nanotechnology against viral infections such HIV or Ebola?
Damian
silver nanoparticles could handle the job?
Damian
not now but maybe in future only AgNP maybe any other nanomaterials
Azam
Hello
Uday
I'm interested in Nanotube
Uday
this technology will not going on for the long time , so I'm thinking about femtotechnology 10^-15
Prasenjit
how did you get the value of 2000N.What calculations are needed to arrive at it
Privacy Information Security Software Version 1.1a
Good
Berger describes sociologists as concerned with
Got questions? Join the online conversation and get instant answers!