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Growing Science » Management Science Letters » Market basket analysis in insurance industry

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Management Science Letters
ISSN 1923-9343 (Online) - ISSN 1923-9335 (Print)
Quarterly Publication
Volume 5 Issue 4 pp. 393-400, 2015

Market basket analysis in insurance industry Pages 393-400 Right click to download the paper Download PDF

Authors: Marzieh Vahidi Roodpishi, Reza Aghajan Nashtaei

📋 Author Affiliations:
Marzieh Vahidi Roodpishi1, Reza Aghajan Nashtaei2
1 M.A. of Business Management, Rasht Branch, Islamic Azad University, Rasht, Iran
2 Department of Business Management, Rasht Branch, Islamic Azad University, Rasht, Iran
doi 10.5267/j.msl.2015.2.004
8 Source: Scopus
Crossref 9 Source: CrossRef

🔑 Keywords: Association rules, Clustering, Data mining, Insurance industry, Shopping basket analysis

Abstract: Nowadays, many organizations focus on discovering their customers’ hidden patterns to maintain their competitive position through customer analysis. In fact, more and more organizations are realizing that customers are their most valuable resources. This paper performs a research using data associated with 300 clients of an insurance company in city of Anzali, Iran and they are analyzed using K-Means clustering method. Using demographic variables including gender, age, occupation, education level, marital status, place of residence and clients’ incomes, the study determines the optimal numbers of clusters in order to achieve necessary data for grouping customers. Next, the study uses the method of association rules to find hidden patterns for the insurance industry.

How to cite this paper
APA: Roodpishi, M & Nashtaei, R. (2015). Market basket analysis in insurance industry. Management Science Letters, 5(4), 393-400.
Chicago/Turabian: Roodpishi, M & Nashtaei, R. 2015. "Market basket analysis in insurance industry." Management Science Letters 5, no. 4 (2015): 393-400.
AMA: Roodpishi, M & Nashtaei, R. Market basket analysis in insurance industry. Management Science Letters. 2015;5(4):393-400.

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📚 Journal: Management Science Letters | 📅 Year: 2015 | 📖 Volume: 5 | 📄 Issue: 4 | 👁️ Views: 3950 | 📊 Crossref: 9

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