Using Data Analytics for Continuous Improvement of CRM Processes: Case of Financial Institution

Gončarovs, Pāvels; Grabis, Jānis

doi:10.1007/978-3-319-67162-8_31

Cited by 3 publications

(2 citation statements)

References 4 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Among the four CRM dimensions, customer development (19 out of 51 articles, 37.3 %) is the most common dimension for which data analytics is used to support decision making. [18], [27], [40], [46] , [47] , [50], [55], [67] Customer Attraction 16 31 % [19], [20], [29], [34], [37], [44], [45], [49], [52], [53], [57], [59], [61], [65], [66], [68] Customer Retention 7 14 % [17], [21], [24], [26], [28], [35], [64] Customer Development 19 37 % [3], [22], [23], [25], [30], [31], [32], [33], [36], [38], [42], [43], [48], [51], [56], …”

Section: Classification Of the Articlesmentioning

confidence: 99%

“…Customer intelligence data mining models may be the most powerful and simplest technique for generating knowledge from CRM data [2]; however, this approach does not consider the customer behaviour data [2]. Data analytics provides an opportunity to transform from a product-centric focus to a more customer-centric view [3]. Data analytics, supported by CRM, can be used throughout the organisation, from forecasting customer behaviour and purchasing patterns to identifying trends in sales activities.…”

Section: Introductionmentioning

confidence: 99%

See 1 more Smart Citation

Data Analytics in CRM Processes: A Literature Review

Gončarovs

2017

Information Technology and Management Science

Self Cite

View full text Add to dashboard Cite

-Nowadays, the data scarcity problem has been supplanted by the data deluge problem. Marketers and Customer Relationship Management (CRM) specialists have access to rich data on consumer behaviour. The current challenge is effective utilisation of these data in CRM processes and selection of appropriate data analytics techniques. Data analytics techniques help find hidden patterns in data. The present paper explores the characteristics of data analytics as the integrated tool in CRM for sales managers. The paper aims at analysing some of the different analytics methods and tools which can be used for continuous improvement of CRM processes. A systematic literature has been conducted to achieve this goal. The results of the review highlight the most frequently considered CRM processes in the context of data analytics.

show abstract