Open Access Open Access  Restricted Access Subscription or Fee Access

Data Mining: Applications in Marketing

Rafi Ahmad Khan

Abstract


Globalization, competition and the rapid advancements in ICT are driving unprecedented revolutionary changes in the way organizations do business. Consequently, business world is rapidly changing, with business processes becoming more and more complex, making it increasingly difficult for managers to have a comprehensive understanding of business environment. These factors have resulted in fast growing capabilities, both in generating as well as collecting data. In spite of having massive data, the organizations fail to completely exploit the real benefits which can be acquired from the great wealth of information hidden in this huge volume of data. One such technique which is finding increasing applications in business is data mining, the process of extracting hidden valuable information from the data in given data sets. Data mining tools are being used for marketing, customer profitability, customer segmentation and customer relationship management. This paper gives a brief insight about data mining, its process and the various techniques that can be used it in the field of marketing.

Keywords


Data Mining, Marketing, Data Warehouse, Classification, Sequencing, Association, Knowledge.

Full Text:

PDF

References


P. Kotler and G. Armstrong, Principles of marketing, New Jersey: Prentice-Hal, 2006.

E. J. McCarthy, Basic Marketing,, IL: Richard D. Irwin, 1964.

U. Fayyad and K. Irani, "Multi-interval Discretization of Continuous- Valued Attributes for Classification Learning," in Thirteenth International Joint Conference on Artificial Intelligence, San Francisco, CA, 1993.

Berzal, Fernando, Cubero, J. Carlos, M. Nicolas and Serrano, "An Efficient Method for Association Rule Mining in Relational Databases," Data & Knowledge Engineering, vol. 37, no. 1, pp. 47-64, 2001.

S. Becker, Data Warehousing and Web Engineering, Hershey: Idea Group Publishing, 2002.

A. K. Pujari, Data Mining Techniques, Hyderabad: Universities Press, 2002.

J. Han and M. Kamber, Data Mining: Concepts and Techniques, Second Edition, Morgan Kaufmann, 2006.

M. J. Berry and G. S. Linoff, Data Mining Techniques For Marketing, Sales and Customer Relationships Management (2nd ed.), Wiley Publishing, 2008.

P. Chapman, J. Clinton, R. Kerber, T. Khabaza, T. S. C. Reinartz and R. Wirth, "CRISPDM 1.0 step-by-step data mining guide," CRISP-DM, 2000.

S. M. Weiss and C. A. Kulikowski, Computer systems that learn, San Francisco, CA: Morgan Kaufmann, 1991.

G. K. Gupta, Introduction to Data Mining With Case Studies, Prentice Hall of India Pvt Ltd, 2006, pp. 131-163..

J. Y. Woo, S. M. Bae and S. C. Park, "Visualization Method For customer Targeting Using Customer Map," Expert Systems With Applications, vol. 28, p. 763–772, 2005.

K. W. Cheung, J. T. Kwock, M. H. Law and K. C. Tsui, "Mining Customer Product Ratings For Personalized Marketing," Decision Support Systems, vol. 35, p. 231–243, 2003.

H. Zengyou, X. Xiaofei, Z. Joshua and D. Shengchun, "Mining class outliers: concepts, algorithms and applications in CRM," Expert Systems with applications, vol. 27, no. 4, pp. 681-697, 2004.

S. H. Liao and Y. J. Chen, "Mining Customer Knowledge For Electronic Catalog Marketing," Expert Systems With Applications, vol. 27, p. 521–532, 2004.

A. Prinzie and D. V. Poel, "Constrained Optimization Of Data-mining Problems To Improve Model Performance: A Direct-Marketing Application," Expert Systems With Applications, vol. 29, p. 630–640, 2005.

M. C. Chen, A. L. Chiu and H. H. Chang, "Mining Changes In Customer Behaviorin Retail Marketing," Expert Systems with Applications, vol. 28, no. 4, p. 773–781, 2005.

T. Jiang and A. Tuzhilin, "Segmenting Customers From Population To Individuals: Does 1-to-1 keep Your Customers Forever," Transactions On Knowledge And Data Engineering, vol. 18, pp. 1297-1311, 2006.

Y. H. Kim and B. R. Moon, "Multicampaign Assignment Problem," IEEE Transactions on Transactions on Knowledge and Data Engineering, vol. 18, p. 405–414, 2006.

J. H. Drew, D. R. Mani, A. L. Betz and P. Datta, "Targeting Customers With Statistical And Data-mining Techniques," Journal Of Service Research, vol. 3, pp. 205-220, 2001.

O. Etzion, A. Fisher and S. Wasserkrug, "A Modeling Approach For Customer Lifetime Evaluation In E-commerce Domains, With An Application And Case Study For Online Auction," Information Systems Frontiers, vol. 7, pp. 421-434, 2005.

S. Rosset, E. Neumann, U. Eick and N. Vatnik, "Customer Lifetime Value Models For Decision Support," Data Mining and Knowledge Discovery, vol. 7, p. 321–339, 2003.

V. Shrivastava and P. N. Arya, "A Study of Various Clustering Algorithms on Retail Sales Data," nternational Journal of Computing, Communications and Networking, vol. 1, no. 2, p. 68, 2012.

I. K. Rao, Data Mining and Clustering Techniques, Banglore: Symantic Web, 2003.

K. P. Soman, S. Diwakar and V. Ajay, Insight Into Data Mining, Prentice Hall of India, 2006.


Refbacks

  • There are currently no refbacks.


Creative Commons License
This work is licensed under a Creative Commons Attribution 3.0 License.