Cluster Analysis in Python']Python: An Example of Market Segmentation

The usual statistical packages differ in their advantages, disadvantages and management, and each of them has its specific characteristics. The feature that distinguishes Python from its closest free and open-source competitor, R, is its simple syntax. Unlike classic statistical software such as SPSS, Stata or SAS, Python is free but not as user-friendly as SPSS or SAS. However, the freedom in creating own codes/functions gives greater opportunities when conducting and correcting analyses, visualizations, etc. Python also has a very well-developed community where it is easy to find literature, instructions and articles, and support when problems arise. Also, it is considered to be the richest program that has packages in many fields, including Deep Learning and Machine Learning. However, the disadvantage is that not all statistical methods and tests are available. Utilizing the example of market segmentation, the purpose of this paper is to present the coding method and advantages of using Python in classifying statistical units by performing cluster analysis.