Data Mining for Customer Relationship Management: A Review

Abstract

In today’s competitive environment, the only way to proliferate one’s business, apart from providing with quality product, is to maintain sturdy relations with the customer. In order to maintain a stable profit inflow and retain customers, companies today employ customer relationship management techniques to ensure that existing customers remain faithful to the brand, and prospective customers are motivated to affiliate themselves to the brand. In this paper, we study various data mining techniques employed in different papers, for identifying trends among customers, and hence improving customer relations.