Dawn of the Personalization Era

Segmentation is not a new concept to the Retailers. Looking into the analytics framework which has been developed over time, Segmentation was one of the traditional and easiest ways to target customers. Ever since the birth of commerce, every retailer has been segmenting his customers based on their gender, class, purchasing power etc. Analytics and segmentation were simply regarded as ‘experience’, ‘trader’s instinct’ or simply ‘gut feeling’. However, with the rapidly changing customer psyche, mere segmentation is not enough. To meet this challenge, statisticians started segregating customers into groups based on multiple dimensions or as it is formally known – [...]