Bringing data mining to customer relationship management of every company

Esa Rinta-Runsala

Research output: Chapter in Book/Report/Conference proceedingConference article in proceedingsScientificpeer-review

Abstract

The current trend in customer relationship management (CRM) is to be analytical. Customer transactions are being recorded by more and more businesses and there is a great demand to use this data efficiently. Data mining (DM), the science of finding new, interesting patterns and relationships in huge amounts of data is a proven solution to analytical CRM. However, the commercial DM tools for analytical CRM have some weaknesses that hinders their wider use. The most important ones are the pricing, the need for data mining expertise of the user and the limited number of methods and algorithms they offer. Especially the costs related to tools and expertise limit the use of DM in small and middle-sized enterprises (SMEs). Louhi data mining tool developed at VTT Technical Research Centre of Finland is designed to overcome these limitations to enable broader use of data mining methods in various customer related businesses also including SMEs. The tool was piloted during year 2003 with end-users in real-world CRM cases.
Original languageEnglish
Title of host publicationProceedings of the Frontiers of e-Business Research (FeBR 2003)
Place of PublicationEspoo
PublisherVTT Technical Research Centre of Finland
Pages274-276
Publication statusPublished - 2004
MoE publication typeA4 Article in a conference publication
EventFrontiers of e-Business Research, FeBR 2003 - Tampere, Finland
Duration: 23 Sep 200325 Sep 2003

Conference

ConferenceFrontiers of e-Business Research, FeBR 2003
Country/TerritoryFinland
CityTampere
Period23/09/0325/09/03

Keywords

  • data mining
  • analytical customer relationship management
  • CRM

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