Data Mining Techniques in CRM: Inside Customer Segmentation [Hardcover]

Konstantinos Tsiptsis (Author), Antonios Chorianopoulos (Author)

Book Description

ISBN-10: 0470743972 | ISBN-13: 978-0470743973 | Publication Date: March 9, 2010 | Edition: 1

A complete and comprehensive handbook for the application of data mining techniques in marketing and customer relationship management. It combines a technical and a business perspective, bridging the gap between data mining and its use in marketing.
 
It guides readers through all the phases of the data mining process, presenting a solid data mining methodology, data mining best practices and recommendations for the use of the data mining results for effective marketing. It answers the crucial question of 'what data to use' by proposing mining data marts and full lists of KPIs for all major industries.Data mining algorithms are presented in a simple and comprehensive way for the business users along with real-world application examples from all major industries.

The book is mainly addressed to marketers, business analysts and data mining practitioners who are looking for a how-to guide on data mining. It presents the authors' knowledge and experience from the "data mining trenches", revealing the secrets for data mining success.

Editorial Reviews

Review

"Turning data into action is the aim of this insightful and practice-oriented book; it succeeds in an extraordinary way. It superbly demonstrates how to use analytical data mining techniques to gain actionable results when analyzing a customer base.This book is poised to become a standard reference, and I unconditionally recommend it to anyone working in this field"
--ACM Computing Reviews (Reviews.com) Jun 2011

"An excellent book for any data miner or anybody involved in CRM. The book is a very pleasant journey inside data mining...Really advised if you′re not a fan of formulas."
--Data Mining Research - dataminingblog.com (18 March 2011)

"The text succeeds in offering a good introduction to data mining and market segmentation for almost any reader."
-- International Retail and Marketing Review (Sep 2011)

Review

"Many marketers hear that data mining is a valuable tool, but may not know where to start or how to apply it to their business. This book bridges the gap between the technology and its use in high-value marketing applications. Not only are the techniques of data mining explained (in ways accessible to mere mortals, not just PhD statisticians), Chorianopoulos and Tsiptsis guide marketers in banking, retail, and telecommunications through the steps of assembling the right data, analyzing it to identify actionable segments, and using this insight to drive successful marketing activities. The book is packed with guidance and tips that will ‘jump start’ marketing applications – a great benefit to any company looking to move its marketing to the next level."
—Colin Shearer, Senior Vice President Strategic Analytics, SPSS, an IBM Company

See all Editorial Reviews

Product Details

• Hardcover: 372 pages
• Publisher: Wiley; 1 edition (March 9, 2010)
• Language: English
• ISBN-10: 0470743972
• ISBN-13: 978-0470743973
• Product Dimensions: 9.9 x 7.1 x 1 inches
• Shipping Weight: 1.7 pounds (View shipping rates and policies)
• Average Customer Review: 4.8 out of 5 stars  See all reviews (12 customer reviews)
• Amazon Best Sellers Rank: #568,165 in Books (See Top 100 in Books)

Customer Reviews

Most Helpful Customer Reviews

4 of 4 people found the following review helpful:

5.0 out of 5 stars Excellent book for any data miner or anybody involved in CRM, June 19, 2011

By 

Sandro Saitta "www.dataminingblog.com" (Switzerland) - See all my reviews
(REAL NAME)   

This review is from: Data Mining Techniques in CRM: Inside Customer Segmentation (Hardcover)

I recently finished reading Data Mining Techniques in CRM: Inside Customer Segmentation. It is a very didactic book written by Tsiptsis and Chorianopoulos. The authors did a very good job in vulgarizing data mining concepts for the reader. That means nearly no formula. But don't misunderstand me, this is not a book only for beginner. Some deep concepts of data mining are presented. The only particularity is that everything is explained with words and pictures. I really appreciated the approach taken by the authors.

The first part of the book explains data mining concepts. Techniques such as clustering, PCA (Principal Component Analysis) and decision trees are introduced. Since clustering is the most used technique in CRM (Customer Relationship Management), it has a particular focus from the authors. Specific topics such as evaluating the clustering results or profiling are discussed. A very interesting chapter is the one showing examples of data marts in CRM applications (retailers, telco and retail banking).

The second part of the book focuses on CRM applications such as segmentation, cross/up-selling, churn, etc. Full chapters are devoted to customer segmentation in banking, retail and telco. These chapters really give detailed information for such projects (data to consider, aggregations, important factors, result interpretation, etc.). It is clear that the authors have a strong experience in CRM.

To conclude, this is an excellent book for any data miner or anybody involved in CRM. The text is clear and pictures are well done (and funny which is rare enough to be mentioned). From basic to advanced topics, the book is a very pleasant journey inside data mining with a clear focus on customer segmentation. Really advised if you're not a fan of formulas.

3 of 3 people found the following review helpful:

5.0 out of 5 stars A pragmatic, hands-on approach, March 6, 2010

By 

Efi Kassouri - See all my reviews

This review is from: Data Mining Techniques in CRM: Inside Customer Segmentation (Hardcover)

A holistic customer behavior & attitude analysis to support decision makers. It is the 'Bible' for marketers who need to build a deeper insight and plan accordingly their actions per customer segment, building profitable customer relationships. I truly recommend using it in your business.

Efi Kassouri
IT/ Release Management Senior Professional
Vodafone

2 of 2 people found the following review helpful:

5.0 out of 5 stars An A to Z guide for applied Data Mining and BI, March 1, 2010

By 

George Goudelis - See all my reviews
(REAL NAME)   

This review is from: Data Mining Techniques in CRM: Inside Customer Segmentation (Hardcover)

This is a book for professionals who want a lift to the next level.
The authors share on a noble scale their professional and academic experience, analyzing methodologies and giving tips which a lot of Data Mining experts ignore or keep carefully hidden.
It is also remarkable that they cross the usual Data Mining boundaries, describing the full view of BI implementations and defining the modern data miner as a BI expert.

George Goudelis
MSc in Applied Mathematics
CRM & Customer Intelligence Manager
Eurobank EFG