Application Of CRM and Data mining in Apparel Retail Store essays & term papers     

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Application Of CRM and Data mining in Apparel Retail Store Free Essay, Term Paper and Book Report

Abstract: The efforts to further customer relationships have become essential due to increased competition in the consumer markets. For which retailers collect tremendous information each day starting from transactional data, to season product sales, to demographics. This data is then organised into a database. After which data mining tools are applied to the data for analysis. Companies drill the data to identify relationships and patterns in customer habits. They then either make new plans to attract new and retain old customers, or modify old strategies to suit changing consumer habits. One such application used by various retailers is Customer relationship management (CRM). In this paper we will see how CRM can be put to use by apparel retailers to enhance service levels, improve customer relation and satisfaction as well as design precise customer loyalty programs. We will also see how through CRM a retailer can enhance profitability. Introduction: The consumer market is extremely competitive, the companies constantly want to understand innovative techniques to gain new cu......

Word Count: 2530
Page Count: 10.1  (250 words a page / double spaced)

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