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Enhancing the Electronic Customer Relationship Management through Data Mining: A Business Intelligence approach
Abstract
According to the Moore’s law, the number of transistors per microprocessor will double in every two years. In no doubt, this exponential increase in the processing speeds would be flanked by the increasing amount of data that corporates contend on a daily basis. Hence all corporates are literally drowning in data. But definitely there exists a hiatus between the data storage and the information retrieval. One can ask an enigmatic question, how effectively a stored data can be utilised for the decision making in the long-term perspective. The answer is not yet arrived out. Hence the “Organizations are data rich, but information poor!”. If capturing and storing the relevant data is a hectic task, then analyzing and translating this data into the actionable information is the other corner stone in any information systems of a concern. This gap can be bridged or overruled by the concept of business intelligence. Business Intelligence (BI) can be simply defined in terms of data –driven approach rather than information driven which includes methods as decision support systems, online analytical processing (OLAP), statistical analysis, query and reporting, forecasting which can be primarily done by data mining. BI along with customer relationship management (CRM) software forms the second tier of a firm’s IT infrastructure. This chapter holds a bird’s eye view of the usage of datawarehousing approaches for a systematic business intelligence approach and its varied applications in view of electronic customer relationship management.
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