Reinforcing CRM with Data Mining

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Author(s): Dan Zhu (Iowa State University, USA)
Copyright: 2005
Pages: 5
Source title: Encyclopedia of Data Warehousing and Mining
Source Author(s)/Editor(s): John Wang (Montclair State University, USA)
DOI: 10.4018/978-1-59140-557-3.ch179

Keywords: Data Mining and Databases / Data Warehousing / Information Science Reference / Library & Information Science

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Abstract

With the explosive growth of information available on the World Wide Web, users must increasingly use automated tools to find, extract, filter, and evaluate desired information and resources. Companies are investing significant amounts of time and money on creating, developing, and enhancing individualized customer relationships, a process called customer relationship management, or CRM (Berry & Linoff, 1999; Buttle, 2003; Rud, 2000). Based on a report by the Aberdeen Group, worldwide CRM spending reached $13.7 billion in 2002 and should be close to $20 billion by 2006.

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