data mining techniques for customer relationship management
Data Mining Techniques: For Marketing, Sales, and Customer Relationship Management - Second Edition
... that, on a technical level, the data mining effort is working and the data is reasonably accurate. This can be quite comforting. If the data and the data mining techniques applied to it are powerful ... this ideal, but the corporate data warehouse is still the most important source of data for analytic customer relationship management. The Role of Data Mining The data warehouse provides the ... What Is Data Mining? 1 Analytic Customer Relationship Management 2 The Role of Transaction Processing Systems 3 The Role of Data Warehousing 4 The Role of Data Mining 5 The Role of the Customer...
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John wiley sons data mining techniques for marketing sales_20 pptx
... level data, 96 publications Building the Data Warehouse (Bill Inmon), 474 Business Modeling and Data Mining (Dorian Pyle), 60 Data Preparation for Data Mining (Dorian Pyle), 75 The Data ... 89–90 metadata repository, 484, 491 methodologies data correction, 72–74 data exploration, 64–68 data mining process, 54–55 data selection, 60–64 data transformation, 74–76 data translation, ... dumping data, 594 forced attrition, 118 forecasting EBCF (existing base churn forecast), 469 NSF (new start forecast), 469 survival analysis, 415–416 former customers, customer relationships,...
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John wiley sons data mining techniques for marketing sales_2 pptx
... analyzing data on the information. can provide value. into actionable information using data mining techniques. Identify Transform data 1 2 3 4 5 6 7 8 9 10 Measure the results of the efforts ... of data mining in practice. Figure 2.1 shows the four stages: 1. Identifying the business problem. 2. Mining data to transform the data into actionable information. 3. Acting on the information. ... for the first time. These parallel database server platforms provide an excellent environ- ment for large-scale data mining. Interest in Customer Relationship Management Is Strong Across a wide...
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John wiley sons data mining techniques for marketing sales_4 pdf
... before. The newly discovered relationships suggest new hypotheses to test and the data mining process begins all over again. Lessons Learned Data mining comes in two forms. Directed data mining ... independent of the data 470643 c04.qxd 3/8/04 11:10 AM Page 87 Data Mining Applications in Marketing and Customer Relationship Management 4 CHAPTER Some people find data mining techniques interesting ... California based on data that excludes calls to Los Angeles. Step Six: Transform Data to Bring Information to the Surface Once the data has been assembled and major data problems fixed, the data...
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John wiley sons data mining techniques for marketing sales_5 pdf
... channel B customer a figure that is as valuable as the cost- per-response measures often used to rate channels. Data Mining for Customer Relationship Management Customer relationship management ... Page 109 Data Mining Applications 109 Start Tracking Customers before They Become Customers It is a good idea to start recording information about prospects even before they become customers. ... customer data by beginning to track customers from their first response, even before they become customers, and gathering and storing additional information when customers are acquired. Once customers...
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John wiley sons data mining techniques for marketing sales_6 ppt
... else for the champion. ■■ Use the 5 percent lowest and 5 percent highest value customers for the challenger, and everyone else for the champion. ■■ Use the 10 percent most recent customers for ... in several areas: ■■ Data miners tend to ignore measurement error in raw data. ■■ Data miners assume that there is more than enough data and process- ing power. ■■ Data mining assumes dependency ... 11:11 AM Page 159 The Lure of Statistics: Data Mining Using Familiar Tools 159 statisticians use similar techniques to solve similar problems, the data mining approach differs from the standard...
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John wiley sons data mining techniques for marketing sales_8 ppt
... test set to see how well it performs. 7. Apply the model generated by the network to predict outcomes for unknown inputs. Fortunately, data mining software now performs most of these steps auto- matically. ... subset of customers who receive all three offers but are only allowed to respond to one of them. It intends to use this information to build a model for predicting customer affin- ity for each ... and learn from data mimics, in some sense, our own ability to learn from experience. This ability is useful for data mining, and it also makes neural networks an exciting area for research,...
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John wiley sons data mining techniques for marketing sales_12 doc
... applied to data. These patterns can be turned into new features of the data, for use in conjunction with other directed data mining techniques. 470643 c11.qxd 3/8/04 11:17 AM Page 355 Automatic Cluster ... Islands of Simplicity In Chapter 1, where data mining techniques are classified as directed or undi- rected, automatic cluster detection is described as a tool for undirected knowl- edge discovery. ... activity because clusters are sought for some business purpose. In marketing, clusters formed for a business purpose are usually called “segments,” and customer segmen- tation is a popular application...
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John wiley sons data mining techniques for marketing sales_13 docx
... censoring. When looking at customer data for hazard calculations, both the tenure and the censoring flag are needed. For the customers in Figure 12.7, Table 12.2 shows this data. It is instructive ... are forced to discontinue their relationships due to unpaid bills? If such a customer were forced to stop on day 100, then that customer did not stop vol- untarily on days 1–99. This information ... cus- tomer databases often contain data on millions of customers and former customers. Much of the statistical background of survival analysis is focused on extracting every last bit of information...
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John wiley sons data mining techniques for marketing sales_19 potx
... cho- sen. However, some kinds of data pose particular problems for some data min- ing techniques. Data Type Categorical variables are especially problematic for data mining techniques that use the ... introduction of data mining requires using data mining techniques to address a real business challenge. For companies that are just getting started with analytical customer relationship manage- ment, ... the production data mining environment ■■ A business case for investing in data mining and customer analytics Even when the decision has already been made to invest in data mining, the proof-of-concept...
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