An Effective CRM Framework with Data Mining Techniques

Committed customers are profitable to an organization for the long term. Customer commitment forms when a customer’s expectation is satisfied and the customer realizes fair value from his/her relationship with the organization. From an organization’s perspective, this value reflects customer equity, but from a customer’s perspective, it represents the customer’s perceived value of the relationship. In order to manage such a relationship successfully, it is necessary to support diverse customer information – such as of- for-the-customer, and by-the-customer information. The CRM framework, which the-customer, includes the decision model for relationship management, should be designed to facilitate the two-way customer relationship exchanges and ways of maintaining committed customers. This paper develops a framework of dynamic customer relationship management which is effectively combined by data mining operations and techniques, suggests the data mining strategy to support the framework, and illustrates the applicability of such framework and strategy in real business.

An Effective CRM Framework with Data Mining Techniques Keywords:

CRM , data mining , customers , data , model