CRM or Customer Relationship Management as the name suggests refers to the software for professionally managing customer interactions in any business or enterprise. When a CRM uses data mining techniques it is called analytical CRM. How to make good use of all the customer data that we have?
It is very important to retain a customer in any business. With high levels off attrition today it is necessary to identify the potential customers who will continue patronage. This can be done using data mining methods. The best customers can be identified and retained.
The different processes of data mining in a CRM are:
- Defining business problem
- Data base accumulation
- Data analysis
- Using Data for modeling
- Evaluation and deployment of model
Data mining services are offered and can be outsourced to professional data mining companies. The need for correct use of data mining techniques to discover patterns in data will depend upon the specificities of the business. The data mining deployment for inbound customers and outbound customers are different. Understanding the customer’s requirements is very important aspect of good business and this can be achieved through data mining. Analytical CRM with data mining at its base is essential for success in any competitive business today.
Managed Outsource Solutions is BPO pioneer based in the US, offering professional data mining, data processing, data entry, data conversion and data scanning solutions.