|
|
Article: Data mining and customer relationship marketing in the banking industry.
- Article from:
- Singapore Management Review
- Article date:
- July 1, 2002
- Author:
CopyrightCOPYRIGHT 2002 Singapore Institute of Management. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Advances in computer hardware and data mining software have made data mining accessible and affordable to many businesses. Hence, it is no surprise that data mining has gained widespread attention and increasing popularity in the commercial world in recent years. Data mining provides the technology to analyse mass volume of data and/or detect hidden patterns in data to convert raw data into valuable information. This paper discusses the potential usefulness of data mining for customer relationship management (CRM) in the banking industry First, the paper introduces the CRM concept and summarises the data mining methodology and tools. Second, it discusses the data mining ...