Improving the Retailers Profit for CRM Using Data Mining Techniques

Abstract

Customer Relationship Management (CRM) is a widespread strategy and process of identifying, retaining and associating selective customers in order to sustain their relationship with the organization. By the application of CRM, greater efficacy and effectiveness in delivering strategies could be achieved. To support CRM in retail sector, many data mining techniques are applied in identifying, attracting, developing and retaining the customer's relationships. On the other hand, the retailers are unable to predict the demand of products which may leads to inconsistencies in profit by the use of CRM. To overcome this disadvantage, an integrated version of CRM along with Supply Chain Management (SCM) is designed which affords the stock requirement from SCM based on the demand in CRM. Thus SCM with CRM enhances the retailers profit, meet the customer's demand and retain the current customers.