Nowadays companies increasingly derive revenue from the creation and sustenance of long-term relationships with their customers. In such an environment, marketing serves the purpose of maximizing customer lifetime value (CLV) and customer equity, which is the sum of the lifetime values of the company’s customers. A frequently-encountered difficulty for companies wishing to measure customer prof...

Objective There is a general tendency toward direct marketing these days. Therefore, instead of designing advertisement and marketing strategies for all the customers in the market, it is recommended to classify the customers based on clustering techniques and then design specific strategies accordingly. This will reduce marketing and advertisement expenses, increase sale department efficientl...

A novel approach for customer segmentation based on neural network is proposed in this paper. Customer purchase behavior is considered in the neural network by clustering technique. Compared with existing research, more information is included in the segmentation process. The experimental results indicate that our method is effective in customer segmentation. Key-Words: Neural network, clusteri...

With a unbridled increase in international and domestic forms of business, Customer Relationship Management (CRM) has become one of the matters of concern to the enterprise and the entrepreneurs. CRM takes customer as the center and it enchants a new life to the organization system and optimizes its business process increasing its profitability. In order to help enterprises understand the “Prod...

studying about the customer segmentation and begetting customer ranking plan diverts more attention in recent years. in this regard, this study tries on providing a methodology for segmenting customers based on their value driver parameters which extracted from transaction data and then ranks customers with regard to their customer lifetime value (clv) score. discovering hidden pattern between ...

the rapid growing of information technology (it) motivates and makes competitive advantages in health care industry. nowadays, many hospitals try to build a successful customer relationship management (crm) to recognize target and potential patients, increase patient loyalty and satisfaction and finally maximize their profitability. many hospitals have large data warehouses containing customer ...

Customer segmentation is a prerequisite to all three phases of customer relationship management which consists of customer acquisition, customer retention and customer development. Input variables which are used in clustering techniques determine which phase of customer relationship management it is dealing with. As a result this paper aims at a review on the input variables used in customer se...

More and more literatures have researched the application of data mining technology in customer segmentation, and achieved sound effects. One of the key purposes of customer segmentation is customer retention. But the application of single data mining technology mentioned in previous literatures is unable to identify customer churn trend for adopting different actions on customer retention. Thi...

Organizations have used Customer Lifetime Value (CLV) as an appropriate pattern to classify their customers. Data mining techniques have enabled organizations to analyze their customers’ behaviors more quantitatively. This research has been carried out to cluster customers based on factors of CLV model including length, recency, frequency, and monetary (LRFM) through data mining. Based on LRFM,...