Abstract
A teaching case appropriate for students in finance, analytics, or related areas is presented for applying cluster analysis to the financial services industry. Based on a real case (modified for confidentiality), it presents students with a real-life scenario where cluster analysis is the appropriate tool to use for addressing a business problem. A credit marketing problem is presented, and incorporates the idea of predictive modeling within clusters. A top-down approach is taken to teach cluster analysis, with the business application and interpretation of results presented first, followed by the algorithm and other details.
Recommended Citation
(2026)
"Using Cluster Analysis in Financial Services: A Teaching Case,"
Journal of Economics and Finance Education: Vol. 19:
Iss.
2, Article 1.
Available at:
https://scholarship.rollins.edu/jefe/vol19/iss2/1
