Data Mining Techniques in CRM: Inside Customer Segmentation [NOOK Book]

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Overview

Data Mining Techniques in CRM: Inside Customer Segmentation presents a comprehensive guide to the use of Data Mining Techniques in the CRM framework, combining a technical and a business perspective and 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.

The book guides readers through all phases of the data ...

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Data Mining Techniques in CRM: Inside Customer Segmentation

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Overview

Data Mining Techniques in CRM: Inside Customer Segmentation presents a comprehensive guide to the use of Data Mining Techniques in the CRM framework, combining a technical and a business perspective and 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.

The book 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. Recommendations for the utilization of the data mining results for effective marketing are made.

Data mining algorithms are presented in a simple and comprehensive way for the business users with no technical expertise.

Lists of recommended input fields are provided to 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

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Editorial Reviews

From the Publisher
"The book is written in a language that is easily accessible to business users who are not fluent in statistical methods and who have no prior exposure to the data mining or customer segmentation domain . . . This book is poised to become a standard reference, and I unconditionally recommend it to anyone working in this field." (Computing Reviews, 23 June 2011)

"This is an excellent book for any data miner or anybody involved in CRM. The text is clear and pictures are well done and funny which is rare enough to be mentioned. From basic to advanced topics, the book is a very pleasant journey inside data mining with a clear focus on customer segmentation. Really advised if you're not a fan of formulas." (Data Mining Research, 18 March 2011)

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Product Details

  • ISBN-13: 9781119965459
  • Publisher: Wiley
  • Publication date: 8/24/2011
  • Sold by: Barnes & Noble
  • Format: eBook
  • Edition number: 2
  • Pages: 372
  • Sales rank: 760965
  • File size: 5 MB

Meet the Author

Konstantinos Tsiptsis, CRM and Customer Intelligence Manager, Eurobank, EFM, Greece

Antonios Chorianopoulos, Greek Ministry of Economy and Finance, Data Analysis Unit, MIS Service, Greece.

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Table of Contents

Acknowledgements.

1. Data Mining in CRM.

The CRM Strategy.

What Can Data Mining Do?

The Data Mining Methodology.

Data Mining and Business Domain Expertise.

Summary.

2. An Overview of Data Mining Techniques.

Supervised Modeling.

Unsupervised Modeling Techniques.

Machine Learning/Artificial Intelligence vs. Statistical Techniques.

Summary.

3. Data Mining Techniques for Segmentation.

Segmenting Customers with Data Mining Techniques.

Principal Components Analysis.

Clustering Techniques.

Examining and Evaluating the Cluster Solution.

Understanding the Clusters through Profiling.

Selecting the Optimal Cluster Solution.

Cluster Profiling and Scoring with Supervised Models.

An Introduction to Decision Tree Models.

Summary.

4. The Mining Data Mart.

Designing the Mining Data Mart.

The Time Frame Covered by the Mining Data Mart.

The Mining Data Mart for Retail Banking.

The Mining Data Mart for Mobile Telephony Consumer (Residential) Customers.

The Mining Data Mart for Retailers.

Summary.

5. Customer Segmentation.

An Introduction to Customer Segmentation.

Segmentation Types in Consumer Markets.

Segmentation in Business Markets.

A Guide for Behavioral Segmentation.

Segmentation Management Strategy.

A Guide for Value-Based Segmentation.

Designing Differentiated Strategies for the Value Segments.

Summary.

6. Segmentation Applications in Banking.

Segmentation for Credit Card Holders.

Segmentation in Retail Banking.

The Marketing Process.

Segmentation in Retail Banking; A Summary.

7. Segmentation Applications in Telecommunications.

Mobile Telephony.

The Fixed Telephony Case.

Summary.

8. Segmentation for Retailers.

Segmentation in the Retail Industry.

The RFM Analysis.

Grouping Customers According to the Products They Buy.

Summary.

Further Reading.

Index.

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Customer Reviews

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  • Posted Fri Mar 19 00:00:00 EDT 2010

    I Also Recommend:

    Handbook of Statistical Analysis and Data Mining Applications
    Data Mining Techniques

    Data mining in action

    If you are looking for a comprehensive guide on data mining this is your book. A real hands-on approach, packed with guidelines and tips. It presents a robust and comprehensive data mining process model, supplemented with real world application examples. This is also the first book that deals with the crucial issue of what data to use and presents full lists of input fields for banking, telcos and retail.

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