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Data Mining and Customer Relationship Management (CRM)
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Customer Lifetime Value Prediction
By analyzing past behavior, data mining provides insights into the future value a customer is likely to generate.
Churn Prediction
Using historical data, data mining predicts which customers are likely to leave, allowing for proactive retention strategies.
Sales Forecasting
Data mining analyzes trends and patterns to forecast future sales, supporting better inventory and capacity planning.
Cross-selling and Up-selling Opportunities
Data mining identifies patterns and predicts which products a customer is likely to buy together or switch to, enhancing sales opportunities.
Customer Satisfaction Analysis
Data mining techniques such as sentiment analysis help understand customer feedback, leading to improved product and service offerings.
Customer Segmentation
Data mining helps in discovering distinct groups within customers to target marketing and service efforts effectively.
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