"Many marketers hear that data mining is a valuable tool, but may not know where to start or how to apply it to their business. This book bridges the gap between the technology and its use in high–value marketing applications. Not only are the techniques of data mining explained (in ways accessible to mere mortals, not just PhD statisticians), Chorianopoulos and Tsiptsis guide marketers in banking, retail, and telecommunications through the steps of assembling the right data, analyzing it to identify actionable segments, and using this insight to drive successful marketing activities. The book is packed with guidance and tips that will ‘jump start’ marketing applications – a great benefit to any company looking to move its marketing to the next level."
-- Colin Shearer
, Senior Vice President Strategic Analytics, SPSS, an IBM Company"Turning data into action is the aim of this insightful and practice-oriented book; it succeeds in an extraordinary way. It superbly demonstrates how to use analytical data mining techniques to gain actionable results when analyzing a customer base.This book is poised to become a standard reference, and I unconditionally recommend it to anyone working in this field"
-- ACM Computing Reviews (Reviews.com) Jun 2011
"An excellent book for any data miner or anybody involved in CRM. The book is a very pleasant journey inside data mining...Really advised if you′re not a fan of formulas."
-- Data Mining Research - dataminingblog.com (18 March 2011)
"The text succeeds in offering a good introduction to data mining and market segmentation for almost any reader."
-- International Retail and Marketing Review (Sep 2011)
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From the Back Cover
Data Mining Techniques in CRM: Inside Customer Segmentation
presents a comprehensive guide to the use of Data Mining Techniques in the CRM framework, combining a technical and a business perspective and bridging the gap between data mining & business professionals. By using non–technical language it focuses on Customer Segmentation and presents guidelines for the development of actionable segmentation schemes.
The book guides readers through all phases of the data mining process, from the understanding of the business objective and the setting of the data mining goal to the model development, evaluation and deployment.
Methodological and technical guidelines are supplemented by real–world application examples from all major industries, including Telecommunications, Banking and Retailing. Recommendations for the utilization of the data mining results for effective marketing are made.
Data mining algorithms are presented in a simple and comprehensive way for the business users with no technical expertise.
Lists of recommended input fields are provided to serve as the basis for the implementation of data mining applications.
The book is mainly addressed to business users who are looking for a practical guide on data mining. It presents the authors′ knowledge and experience from the ′data mining trenches′, demystifying the secrets for data mining success.
--This text refers to the