An Assessment of Data Mining Based CRM Techniques for Enhancing Profitability

Customer Relationship Management (CRM) system is used to manage company relations with the existing and prospect customers. Data mining is used in organization for decision making and forecasting of prospective customers. We have studied recent literature related to use of data mining techniques for CRM. Based on review of the contemporary literature, we analyzed different data mining techniques employed in different types of business, corporate sectors and organizations. We illustrated a critical review table which provides the problem addressed, proposed techniques, significance, limitations and suggested possible improvements for each proposed techniques review during this study. The critical review of the data mining techniques which are being used for CRM is provided in this paper.