CRM and Data Mining: A Strategic Imperative in the Business

During economic recession several companies face a dangerous period and also during this period some companies are growing by shoplifting share from others. Companies are finding their way to re-power & re-energize their strategies. In the competitive dynamic market, marinating and building strong relationship with customers is essential for long term business endurance. Businesses are now being anxious to place their clients at the heart of all of their activities and to rethink their entire sales and marketing strategies. Many companies have invested heavily in technologies enabling a customerfocused relationship marketing strategy. Currently, firms are applying Customer Relationship Management (CRM) to facilitate the maintenance of this relationship. CRM tool provides a method of maximizing existing customer resource as well as adding value from the customers’ perception. This paper provides a holistic view of CRM from both a business and a technology perspective.