We are going to briefly discuss how we can segment the customer base in this section. We are going to expand this concept and discuss further how we can utilize machine learning for customer segmentation in Chapter 10, Data-Driven Customer Segmentation, but this section will give you some basic idea on what customer segmentation is and what it looks like.
In this section, we will be segmenting our customer base by Customer Lifetime Value and Months Since Policy Inception. Feel free to try different features for segmenting the customer base. Take a look at the following distribution of the Customer Lifetime Value column:
Based on this information, we are going to define those customers with a Customer Lifetime Value ...
