Customer centric data mining is a collection of techniques and methods which enables businesses to engage and retain their market share. Through customer centric data mining, you are trying to get vital information out of all the data that you have about your customers . This will now guide you in making business decisions.
Four usage of customer centric data mining…
Customer centric data mining helps you to discover vital information that can help you to serve customers better. You are able to discover patterns that are common to all your customers which will now help you to know the best products and services to introduce to your loyal customers.
Customer centric data mining can also help you to critically assess the past historical records that you have about your customers. You can now compare it with present situation in your organisation and use it to predict what is likely to happen in the future, One of such is predicting your sales for a particular period or when you are trying to calculate the lifetime value of your customers.
Customer centric data mining also enables organisations to use data actively for powerful market impacts. Instead of keeping files in archives located in far away store. Customer centric data mining allows you to see patterns that are common to all your customers . This can help you to predict your customer’s next move and raise exit barrier for them.
high volume information
Customer centric data mining allows you to convert high volume of data to high volume of information. I have told you that in my previous article that information are data supported by facts. You are able to digitalised your customer data which gives you an insight into customer behaviors. This always assist organisations to serve customers better based on information at their disposal.
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