A Quantitative Approach in Market Research

Abstract

Data mining techniques successfully apply in market segmentation and considered one of the important fields of research in marketing. The aim of this paper is to summarize the academic literature review of the available data mining techniques and its application to the market segmentation. This research surveyed eight online journal databases and categorized into thirteen groups based on data mining techniques. The brief description of each of the data mining techniques and suggestions is also discussed. The results indicate that neural networks and kernel based method are the most emerging and well explored data mining techniques. This research paper provides as a direction to the industry as well as academic researchers.

Keywords: Market segmentation, Data mining, Review, Neural network, Support vector machine, Research methodology.

Data mining techniques successfully apply in market segmentation and considered one of the important fields of research in marketing. The aim of this paper is to summarize the academic literature review of the available data mining techniques and its application to the market segmentation. This research surveyed eight online journal databases and categorized into thirteen groups based on data mining techniques. The brief description of each of the data mining techniques and suggestions is also discussed. The results indicate that neural networks and kernel based method are the most emerging and well explored data mining techniques. This research paper provides as a direction to the industry as well as academic researchers.

Keywords: Market segmentation, Data mining, Review, Neural network, Support vector machine, Research methodology.