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Forecasting of Customer Behavior Using Time Series Analysis

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Data Science: From Research to Application (CiDaS 2019)

Part of the book series: Lecture Notes on Data Engineering and Communications Technologies ((LNDECT,volume 45))

Abstract

Forecasting future behavior of customers has significant importance in businesses. Consequently, data mining and prediction tools are increasingly utilized by firms to predict customer behavior and to devise effective marketing programs. When dealing with multiple time series data, we encounter with the problem that how to use those time series to forecast the behavior of all customers more accurately. In this study we proposed a methodology to create customer segments based on past data, create Segment-Wise forecasts and then discover the future behavior of each segment. The proposed methodology utilizes existing data mining and prediction tools including time series clustering and forecasting, but combines them in a unique way that results in higher level models in terms of accuracy than baseline model. The proposed methodology has substantial application in marketing for any firm in any domain where there is a need to forecast future behavior of different customer group in an effective manner.

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Author information

Authors and Affiliations

  1. Faculty of Information Technology and Computer Engineering, Azarbaijan Shahid Madani University, Tabriz, Iran

    Hossein Abbasimehr

  2. IT Group, Department of Industrial Engineering, KN Toosi University of Technology, Tehran, Iran

    Mostafa Shabani

Authors
  1. Hossein Abbasimehr
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  2. Mostafa Shabani
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Corresponding author

Correspondence to Hossein Abbasimehr .

Editor information

Editors and Affiliations

  1. Institute for Advanced Studies in Basic Science, Zanjan, Iran

    Mahdi Bohlouli

  2. Institute for Advanced Studies in Basic Science, Zanjan, Iran

    Bahram Sadeghi Bigham

  3. Institute for Advanced Studies in Basic Science, Zanjan, Iran

    Zahra Narimani

  4. Institute for Advanced Studies in Basic Science, Zanjan, Iran

    Mahdi Vasighi

  5. Institute for Advanced Studies in Basic Science, Zanjan, Iran

    Ebrahim Ansari

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Abbasimehr, H., Shabani, M. (2020). Forecasting of Customer Behavior Using Time Series Analysis. In: Bohlouli, M., Sadeghi Bigham, B., Narimani, Z., Vasighi, M., Ansari, E. (eds) Data Science: From Research to Application. CiDaS 2019. Lecture Notes on Data Engineering and Communications Technologies, vol 45. Springer, Cham. https://doi.org/10.1007/978-3-030-37309-2_15

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