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Printable Handouts
Navigable Slide Index
- Introduction
- Talk overview
- Data mining
- The data mining challenge
- Using data mining to create models
- The customer lifecycle
- Business processes reflect the customer lifecycle
- Events occur throughout the customer lifecycle
- Different data is available throughout the lifecycle
- Different models are appropriate
- Customer acquisition models
- Product penetration model
- Response model
- The decision tree form of the response model
- Ways to use the response model
- A profitable mailing
- Differential response
- Differential response analysis
- Where to look for new customers
- Customer value has many components
- Customer value - newspaper example
- Who is more valuable?
- What advertisers are buying
- Quality measure: a tale of three census tracts
- Quality measure: applied
- Quality measure: applied and quantified
- Ongoing customers have richer data (1)
- Ongoing customers have richer data (2)
- Recommendations
- Approaches to recommendation
- Example for combining multiple propensity models
- Each product has its own tree
- Combining models Into a best next offer model
- How long will a customer survive?
- Median survival
- Calculating hazards
- U.S. mortality as an example of hazards
- Hazards are like an X-ray into customers
- Calculating how long a customer will survive
- Quantifying the value of a loyalty program
- In conclusion
- Thank you for listening
Topics Covered
- Businesses should establish a learning relationship with their customers
- Data mining is a key enabler of the learning relationship
- Business processes are organized around the customer relationship
- Business processes generate data that can be used for modeling
- Product penetration
- Campaign response
- Campaign profitability
- Differential response analysis
- Customer value
- Recommendation and cross-selling
- Forecasting remaining customer lifetime
Talk Citation
Berry, M.J.A. (2008, June 17). Data mining for Customer Relationship Management [Video file]. In The Business & Management Collection, Henry Stewart Talks. Retrieved December 3, 2024, from https://doi.org/10.69645/FQEX9901.Export Citation (RIS)