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Data Mining Techniques in CRM: Inside Customer Segmentation by Konstantinos K. Tsiptsis, Visit Amazon's Antonios

By Konstantinos K. Tsiptsis, Visit Amazon's Antonios Chorianopoulos Page, search results, Learn about Author Central, Antonios Chorianopoulos,

A whole and complete guide for the appliance of knowledge mining concepts in advertising and patron courting administration. It combines a technical and a company viewpoint, bridging the distance among info mining and its use in marketing. It courses readers via the entire stages of the knowledge mining method, proposing a high-quality info mining method, information mining most sensible practices and proposals for using the information mining effects for potent advertising and marketing. It solutions the an important query of 'what facts to take advantage of' through offering mining info marts and entire lists of KPIs for all significant industries.Data mining algorithms are awarded in an easy and complete approach for the enterprise clients besides real-world software examples from all significant industries.The publication is especially addressed to retailers, enterprise analysts and knowledge mining practitioners who're trying to find a how-to consultant on facts mining. It provides the authors' wisdom and event from the "data mining trenches", revealing the secrets and techniques for info mining good fortune.

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In order to yield optimal results it may require special data preparation, including potential screening and transformation of the predictors. It still demands some statistical experience, but provided it is built properly it can produce stable and understandable results. • Neural networks: Neural networks are powerful machine learning algorithms that use complex, nonlinear mapping functions for estimation and classification. AN OVERVIEW OF DATA MINING TECHNIQUES 25 They consist of neurons organized in layers.

These models are also referred to as regression models after the respective statistical technique. Nowadays, though, other estimation techniques are also available. Another use of supervised models is in the screening of predictors. These models are used as a preparatory step before the development of a predictive model. They assess the predictive importance of the original input fields and identify the significant predictors. Predictors with little or no predictive power are removed from the subsequent modeling steps.

Therefore it used data mining in order to reveal the matching customer profile and identify the right prospects. The company decided to run a test campaign in a random sample of its existing customers which currently were not using the Internet service. The campaign’s recorded results define the output field. The input fields include all the customer demographics and usage attributes which already reside in the organization’s data mart. Input and output fields are joined into a single dataset for the purposes of model building.

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