Journal
EXPERT SYSTEMS WITH APPLICATIONS
Volume 37, Issue 7, Pages 5259-5264Publisher
PERGAMON-ELSEVIER SCIENCE LTD
DOI: 10.1016/j.eswa.2009.12.070
Keywords
Customer relationship management; Customer loyalty; K-Means algorithm; RFM model
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Data mining (DM) methodology has a tremendous contribution for researchers to extract the hidden knowledge and information which have been inherited in the data used by researchers. This study has proposed a new procedure, based on expanded RFM model by including one additional parameter, joining WRFM-based method to K-means algorithm applied in DM with K-optimum according to Davies- Bouldin Index, and then classifying customer product loyalty in under B2B concept. The developed methodology has been implemented for SAPCO Co. in Iran. The result shows a tremendous capability to the firm to assess his customer loyalty in marketing strategy designed by this company in comparing with random selection commonly used by most companies in Iran. (C) 2009 Elsevier Ltd. All rights reserved.
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