Business Analytics and Data Mining Techniques for CRM Industry

This report analyzes the business analytics and data mining techniques used in the CRM industry for decision making. It explores the applications, opportunities, and challenges associated with these techniques.

University
Semester
TECH7406- Business Intelligence and Data Ware housing
Research Report
Individual Report – 3 Customer Relationship
Management industry
Student ID
Student Name
Submission Date
1

Table of Contents
Introduction...........................................................................................................................................3
Business Analytics and Data mining Techniques for Customer Relationship Management industry....3
Applications of CRM industry...............................................................................................................4
Business Opportunities for CRM industry.............................................................................................5
Challenges for the CRM industry..........................................................................................................5
Conclusion.............................................................................................................................................5
References.............................................................................................................................................6
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Introduction
Main objective of this project is to prepare the report to analysis the business analytics
and data mining techniques to the selected domains, here we are chosen the Customer
Relationship Management (CRM) industry and, also this report is used to review the
applications of business intelligence analytics and data mining in Customer Relationship
Management industry for decision making contents. This project is used to enable user to
understand the how business intelligence analytics and data mining technique revolutionize
business today.
In this project focus on the following aspects such as,
 Business analytics and data mining techniques
 Applications of the CRM industry based on business analytics and data
mining technique
 Generate the new opportunities for Customer Relationship Management
industry
 Finally, analysis the any challenges that associated with the application of
business analytics and data mining techniques for CRM industry.
All these factors will be analyzed and discussed in detail.
Business Analytics and Data mining Techniques for Customer Relationship
Management industry
Basically, the customer relationship management is a most important of every
business which is used to encompass the al the interactions in the point of view of a business
may it be a people on the network through a phone cal. It has only one goal which is improve
the organization profitability. It is system tool which is used to aids the management like
productivity, work flow process, sales, contact and many more. It is used to examine and
analyze the interaction with customers and data throughout the customer lifecycle. It is used
to provide the information and data that the company can use to improve the customer
services to have the good customer retention resulting which is used to increases the revenue
and sales. Basically, data mining contains several applications for CRM ("Business
Intelligence for Customer Relationship Management | Business Intelligence Tool", 2019). It
creates the value for a customer who is the main determinant to have a business that is
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successful. The satisfaction of customer is used to ensure the profitability for the business. It
is helps to increasing the business product and services and it increased the loyalty between
the current customers when attempting to attract the new customers. It facilitates with
prospective analyst, which is used to improve the business and it creating the opportunities
for business to determine the new methods for implementing effective strategies of CRM.
Data mining techniques and Business intelligence are highly used for enhancing all the
phases of CRM which is used to provide the actionable and timely information, maintain the
high levels of the customer satisfaction and retention of profitable customers (Rodpysh,
2012).
Applications of CRM industry
The CRM applications is based on inputs form the classification of the data mining
process and business intelligence process which are combined to creates the integrated model
for CRM. The integrated mode is consist of the three types of the process of the data mining
which could be used in the CRP process and possible applications of the these two technique.
The application of these two techniques in CRM is become the significant triggers for
creating the successfully strategic decision which is related to the CRM process. It is
illustrated as below (Akhavan & Heidari, 2012).
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Data mining and CRM analyst is used for providing efficient tools which are used to
analyze the customer data for the purpose of the decision making for an organization. It is
used to increase sales and revenue and also improve customer retention in an organization.
Business Opportunities for CRM industry
Basically, the data mining and analyst is having the availability tools which is CRM
to creating the business opportunities for finding new methods to implement CRM strategies
that are effective. It also involves the discovery of variations and treads in customer data
which is used to create the opportunities to implement the customer relationships. The CRM
is used to create the activities critical to building the relationship and generating the future
opportunities such as managing sales opportunities in CRM which is easy and it is used to
monitor and track the revenue opportunities from the initial contact to closure. It also record
and share the competitor activities, weakness and strengths. It manages the leads and sales
opportunities in database. It tracks the sales opportunities against the marketing campaign
which is used to understand the ROI ("Customer Relationship Management & Opportunities -
Sunrise Software", 2019).
Challenges for the CRM industry
The challenges for CRM industry based on data mining and business analyst is
represented as below (K S, 2015).
 Define the clear objective to be linked to both business objectives and
processes.
 Integrating CRM with existing system
 Determine the right partner
 Achieving the user adoption
 Managing the applications
Conclusion
This project was successfully prepared the report which is effectively analyses the business
analytics and data mining techniques to the Customer Relationship Management industry
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and, also this report is also effectively review the applications of data mining and business
intelligence analytics in Customer Relationship Management industry for decision making
contents. This project is used to enable user to understand the how business intelligence
analytics and data mining technique revolutionize business today. This report is focus on the
following aspects such as,
 Business analytics and data mining techniques
 Applications of the Customer Relationship Management industry based on
business analytics and data mining technique
 Generate the new opportunities for Customer Relationship Management
industry
 Finally, analysis the any challenges that associated with the application of
business analytics and data mining techniques for Customer Relationship
Management industry.
References
Akhavan, P., & Heidari, S. (2012). Application of Knowledge Management in Customer
Relationship Management: A Data Mining Approach. SSRN Electronic Journal. doi:
10.2139/ssrn.2188230
Business Intelligence for Customer Relationship Management | Business Intelligence Tool.
(2019). Retrieved from https://www.elegantjbi.com/elegantjbi/business-bi-crm.html
Customer Relationship Management & Opportunities - Sunrise Software. (2019). Retrieved
from https://www.sunrisesoftware.com/newfeature/customer-relationship-management-
opportunities/
K S, R. (2015). A Data mining model for Customer Relationship Management -A
Review. International Journal Of Engineering And Computer Science. doi:
10.18535/ijecs/v4i8.58
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Rodpysh, K. (2012). Applying Data Mining in Customer Relationship
Management. International Journal Of Information Technology, Control And
Automation, 2(3), 15-25. doi: 10.5121/ijitca.2012.2302
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