Data Analytics for Customer Relationship Management Jaideep Srivastava   View Paper (PDF)   Return to Tutorials Abstract Corporations across the world are recognizing that intimate, one-to-one relationships with their customers are critical for survival in the increasingly global and competitive marketplace. The ones which are proactive and quick footed, have taken the initiative to implement a Customer Relationship Management (CRM) system that integrates every area of business that touches the customer -- namely marketing, sales, and customer service -- by coordinating people, internal processes and technology. A traditional CRM system typically focuses on reengineering the transactions and workflows to make them customer centric, however to gain competitive advantage it is equally important to analyze the business data for locating patterns in customer behavior that would help in customer acquisition, retention, and building customer loyalty. This can be achieved by coupling Data Analytics with traditional CRM. The tremendous leaps in storage and computational power have made Data Analytics emerge as a powerful business tool that unleashes the power in your data across the organization for better decision making. Data Analytics combines data warehousing, data mining and mathematical modeling concepts to decipher previously unknown, actionable information from business data. Because the basis of data analytics is data -- the facts about what has already happened in the organization -- data analytics enables the organization to leverage the experience to make better decisions today. This tutorial provides an up-to-date introduction to the increasingly important field of "Analytical CRM", whose goal is provide a quantitative basis for making CRM decisions -- thus leading the transition from customer relationship as an art to a science. ©2005 Association for Computing Machinery