Improvement of Customer Relationship Management (Crm) Using Data Mining Tools: Exploring the Benefits of Data Mining in Customer Relationship Management

Abstract

This research articleconducts a study on the subject of improvement of CRM using data mining tools.Taking a critical point of view, the study is a discussion of the role of datamining tools in making advancement in CRM implementation. However, the study aswell broadly discusses the concepts and various points of views related to CRMfunctions. The study is conducted relying solely on secondary research. Thearticle begins with defining and conceptualizing of the CRM, and furtherlooking into the use of data mining tools in CRM through defining and conceptualizingof data mining. The main body of the article discusses the useful models of CRMand useful data mining methods as well as tools applicable in CRM. The article concludesthrough the discussion that the method or technique of data mining might helpout business organizations to extract or spot the presence of lifetimecustomers in the market, and further generate value for the analysis ofperformance data and customer Behavior. CRM functions led by data mining modelsrevolve around four aspects of customer relationship in the forms of customeridentification, customer attraction, customer retention, and customerdevelopment. Data mining techniques applied in CRM helps out a businessorganization to have deeper understanding of acquiring data in a non-intrusive,low cost, highly accurate manner, though managing these bulky sets of data isextremely challenging.