Data Mining And Its impact on business decision making in the context of crm

Reflexión académica sobre temáticas relacionadas con la Ingeniería
Carlos Logreira

Universidad Cooperativa de Colombia

Data mining is a term that covers a wide range of techniques used in many industries. Due to increasing competition in profits and market share in the field of marketing, data mining has become an essential tool to maintain a competitive advantage in all phases of a customer’s life cycle. This reflection paper, product of the investigation project “Use of data mining for credit analysis and client segmentation”, made in the Universidad Cooperativa de Colombia between 2006 and 2010, explains the current outlook in data mining; it presents an analysis of its importance, origin and implementation through the description of existing methodologies to develop a project in this area of research. It also reflects on its applicability to business processes associated with the Customer Relationship Management (crm) strategy for making business decisions and customer segmentation.
Keywords: crm, data mining, business decision making
Published
2024-04-01
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