Improving Customer Relationship Management Using Data Mining

Abstract

—Customer Relationship Management (CRM) refers to the methodologies and tools that help businesses manage customer relationships in an organized way. Data Mining is the process that uses a variety of data analysis and modeling techniques to discover patterns and relationships in data that may be used to make accurate predictions. It can help you to select the right prospects on whom to focus. The essence of the information technology revolution and, in particular, the World Wide Web is the opportunity to build better relationships with customers than has been previously possible in the offline world. For instance, as part of their CRM strategy, a business might use a database of customer information to help construct a customer satisfaction survey, or decide which new product their customers might be interested in.