A framework for analytical CRM: a data mining perspective

Abstract

The authors in this paper present customer relationship management (CRM) analytics and its framework from data mining (DM) perspective. The paper also presents the benefits to any enterprise that will reap the same by incorporating the framework. As all of us are aware, DM is the extraction of previously unknown and hidden information from the databases. Its tools can answer customer-related questions that were too time-consuming to resolve earlier and even in some case not possible to answer. They provide the hidden patterns, predictive information that experts may miss. Analytical CRM helps in better understanding of the customers by evaluating customer-related data using the tools like DM. Greenberg (2004) defined analytical CRM as the capture, storage, extraction, processing, interpretation and reporting of customer data to a user. The paper also justifies the framework with an empirical example.