Data Mining Techniques in CRM: Inside Customer Segmentation
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Data Mining Techniques in CRM: Inside Customer Segmentation provides a comprehensive handbook for the use of Data Mining Techniques in the CRM framework, combining a technical and a business perspective, bridging the gap between data mining & business professionals. By using non-technical language it focuses on Customer Segmentation and presents guidelines for the development of actionable segmentation schemes. It guides readers through all phases of the data mining process, from the understanding of the business objective and the setting of the data mining goal to the model development, evaluation and deployment. Methodological and technical guidelines are supplemented by real-world application examples from all major industries, including Telecommunications, Banking and Retailing and recommendations for the utilization of the data mining results for effective marketing. Data mining algorithms are presented in a simple and comprehensive way for the business users with no technical expertise. It proposes mining data marts for Telecommunications, Banking and Retailing and full lists of recommended input fields that have been proved useful and can serve as the basis for the implementation of data mining applications. The book is mainly addressed to business users who are looking for a practical guide on data mining. It presents the authors' knowledge and experience from the 'data mining trenches', demystifying the secrets for data mining success "Many marketers hear that data mining is a valuable tool, but may not know where to start or how to apply it to their business. This book bridges the gap between the technology and its use in high-value marketing applications. Not only are the techniques of data mining explained (in ways accessible to mere mortals, not just PhD statisticians), Chorianopoulos and Tsiptsis guide marketers in banking, retail, and telecommunications through the steps of assembling the right data, analyzing it to identify actionable segments, and using this insight to drive successful marketing activities. The book is packed with guidance and tips that will “jump start” marketing applications – a great benefit to any company looking to move its marketing to the next level."—Colin Shearer, Senior Vice President Strategic Analytics, SPSS, an IBM Company
1 Data Mining in CRM2 An Overview of Data Mining Techniques3 Data Mining Techniques for Segmentation4 The Mining Data Mart5 Customer Segmentation6 Segmentation Applications in Banking7 Segmentation Applications in Telecommunications8 Segmentation for RetailersFurther ReadingIndex
