Used to describe and quantify customer segments, cluster analysis enables you to target customers according to their needs, instead of having one general marketing approach.
B2B Cluster Analysis
Cluster analysis is an exploratory tool designed to reveal natural groupings within a large group of observations, segmenting the survey sample – respondents or companies – into a small number of groups.
Respondents whose answers are very similar should fall into the same clusters while respondents with very different answers should be in a different cluster. Ideally, the cases in each group should have a very similar profile towards specific characteristics – for example attitudinal or behavioural questions – while the profiles of respondents belonging to different clusters should be very dissimilar.
Cluster analysis can suggest, based on complex input, groupings that would not otherwise be apparent, such as the needs of specific groupings or segments in the market.