Data mining tools: a CRM perspective

Abstract

With the emphasis on customer strategy and building customer relationship and values, this paper provides an overview of data mining products with respect to customer relationship management. The leading data mining products are more than just modelling engines employing powerful algorithms; instead they address the broader business and technical issues with respect to customer relationship. The choice of the particular tool for a particular application for the companies is a challenge. The authors tried to present the benefit and application of the data mining tools in CRM through the survey of the literature. The paper attempts to present the competitive advantage, the firm achieves by selecting the best suited data mining tool according to their need.