From the above analyses on the
gathered data, we can cluster the IIT students
Based on Age :
Into 2 clusters 20-25 and 25-30 years
of age. The first cluster does not use mobile banking while the 2nd
does.
Based on Degree :
Into 2 clusters Btech and MBA. The
first cluster does not use mobile banking while the 2nd does.
So, Banks who intend to expand
their mobile banking services should target the 20-25 age group of students who
have work experience and have been earning previously. This group is more open
to new technological advances and has higher purchasing power. Also, they need
mobile banking services for their various purposes like paying phone and
internet bills, checking balances, paying fees etc.
References
http://www.daylight.com/meetings/mug96/barnard/E-MUG95.html
https://www.classle.net/faq/difference-between-hierarchical-and-non-hierarchical-clustering
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