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UTILITY BILLING SOFTWARE FOR

MARKET SEGMENTATION USING ML
Rahul Rajput, Aniket Jamdade, Vaibhav Ambekar, Sanket Kanande
Department of Computer Engineering
Sinhgad Institute of Technology, Lonavala, Maharashtra, India

Abstract: Earlier all the superstores, restaurants use the offline billing system which include paper bills. Paper Bills are
now the primary channel of communication between Companies and their customers.
Small Scale businesses uses paper bills for interacting with their customers but this is limited to the specific range. But
in the todays Highly Advanced World, when question comes about development of Small Scale Businesses, we require
Billing System. So in order to find the Hidden Insights form the data, we implemented this project.
Utility Billing Software for Market Segmentation using Machine Learning. Microsoft Power BI is the most
trending tool to analyze the data and to prepare dashboards for the further analysis which helps to take business
driven decisions

Keywords: Machine Learning Algorithms, Predictive Analytics, Customer Segmentation, Price Optimization

I. INTRODUCTION

Nowadays, billing software’s is widely used in every industry for easy transaction. The small scale businesses are also
using these software’s for building digital environment. Paper Bills are now the primary channel of communication
between Company and their Customers through which they can have face to face interaction.
There is a rapid growth in billing software which has led to the substantial rise in transaction system. Finding the hidden
and interesting insights from the business data is generally a time consuming and difficult task. Generally, Market
Segmentation techniques and Machine Learning Algorithms are used to solve these problems.
Main aim of Segmentation is to focus on the Potential Customers and understanding need and wants of the group. A high
importance is given to develop a Machine Learning model to find insights from data which helps in Business Growth
and also helps in future development of the organization.
In this project, we will focus on building Machine Learning Model for business development.

II. METHODOLOGY

2.1 Market Segmentation Techniques:

1. Customer Demographics: Segment based on age, gender, location, income, etc.
2. Behavioral Segmentation: Group based on actions, purchases, loyalty, etc.
3. Psychographic Segmentation: Segment by personality traits, interests, opinions, etc.
4. Geographical Segmentation: Segment based on geographical location.

2.2 Machine Learning Algorithms:

1. K-means Clustering
2. Hierarchical Clustering

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2.3 Stepwise Analysis of Dataset

1) Loading all the required libraries:

2) Reading the CSV Dataset File and getting first 2 records:

3) Grouping Category and Total Sales together to get pie chart:

4) Pie chart of Category wise sales:

5) Line plot of Average Sales across months:

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Data Flow Diagram:

(Fig 2.1-Data Flow Diagram)

III. LITERATURE SURVEY

Author: Mark Anthony Callimeri

This paper highlights the concept of target marketing, which is used by businesses to cater to the diverse preferences of
customers. Instead of trying to satisfy all customers, companies divide the market into segments and focus on
developing products or services that meet the specific needs of those segments. The three stages of target marketing are
market segmentation, market targeting, and market positioning. Market segmentation involves dividing the market into
groups, while market targeting focuses on selecting the most profitable segments. Finally, market positioning involves
adapting marketing strategies to suit the requirements of individual consumer groups.

Author: Sulekha Goyat

This paper addresses the research question, what is the best method of consumer market segmentation. It deals with the
issues that are already discussed by the researchers and also identifies the research gap for the further researches. It
focuses on the definition, basis of market segmentation and issues related to market segmentation in detail. This
research paper will provide information about the knowledge gap and will show a path for future research in the area of
market segmentation, which is the heart of marketing now a day.

Author: Bohan Zhao

This paper addresses that in digital period, more and more e-commerce companies have emerged. However, the
competition also becomes more intense than before own to a large number of rivals. In this case, it is important to offer
the customers recommendation to boost their satisfaction and loyalty. This work will use marketing segmentation as a
method to predict the behavior of each customer, and the recommendation system will provide personalized
recommendations based on the results. This paper exhibited the process of market segmentation and the K-means
algorithm is introduced as the main part to do market segmentation. And the market was segregated based on several
characteristics. In addition, the author discussed how to do recommendations by using the result of market
segmentation. As a result, two advantages were exhibited: one is boosting the advertising efficiency, another is
improving service. Therefore, it could be emphasized that market segmentation completed the recommendation system.

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IV. RESULT

Fig 4.1 Pie Chart of Category wise Sales

Fig 4.2 Line plot showing Monthly Average Sales

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V. CONCLUSION
In conclusion, billing software plays a crucial role in efficiently managing the billing and invoicing processes for
businesses. It automates the calculation, generation, and tracking of invoices, ensuring accuracy and timeliness. By
integrating with various data sources, such as customer information, consumption data, pricing data, and payment
records, billing software streamlines the billing workflow, reduces manual errors, and improves overall efficiency.
Billing software offers numerous benefits, including improved billing accuracy, faster invoice generation, enhanced
customer satisfaction, and increased transparency in financial transactions. It enables businesses to effectively manage
billing cycles, track payment statuses, and generate insightful reports for better financial analysis and decision-making.
Additionally, integration with payment gateways allows for seamless and secure payment processing, further
optimizing the billing process.
Overall, billing software serves as a valuable tool for businesses, enabling them to streamline their billing operations,
improve accuracy, and enhance customer satisfaction. Its automation and integration capabilities contribute to increased
efficiency, productivity, and financial control, making it an essential component for organizations of all sizes and
industries.

VI .REFERENCES
1. Market Segmentation, Targeting and Positioning By Mark Anthony Camilleri , PhD (Edinburgh)
2. Proceedings of the 2022 7th International Conference on Financial Innovation and Economic Development (ICFIED
2022) Research on Using Market Segmentation to do Recommendation in E-commerce Bohan Zhao
3. European Journal of Business and Management www.iiste.org ISSN 2222-1905 (Paper) ISSN 2222-2839 (Online)
Vol 3, No.9, 2011 45 | P a g e www.iiste.org The basis of market segmentation: a critical review of literature Sulekha
Goyat
4.Jordan, M., Mitol TM (2015). "Machine learning trends, perspectives, and Jordan, M.L., Mitchel. TM (2015).
"Machine learning: trends, perspectives, and prospects". In Science (vol. 349, issue 6245).
5..Krizhevsky, Alex, Ilya Sutskever, and Geoffrey E Hinton (2012). "Imagenet Classification with Deep Convolutional
Neural Networks". In Advances in Neural Information Processing Systems, (pages 1097-1105). Chang, Wo L (2018),
"NIST Big Data Interoperability Framework: Volume
6. Use Cases and General Requirements". In National Institute of Standards and Technology (NIST) Special
Publication 1500-3r1 LeCun Yann, Yoshua Bengio, and GeoffreyHinton (2015), "Deep learning" In Nature (vol. 521,
pages 436-444).
7.Ajeet Ram Pathak, Manjusha Pandey, Siddharth Rautaray (2018), "Application of DeepLearning for Object
Detection", In Procedia Computer Science (vol. 132, pages)

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