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Study on data mining application in CRM system based on insurance trade

Published: 15 August 2005 Publication History

Abstract

More and more enterprises begin to employ CRM systems to enhance the analysis of the customers' value, and thus providing basis for individualized marketing, though the depth of data using needs to be furthered. This paper, taking the insurance trade as an example, is making an attempt to put Data Mining Technology into CRM systems and proposes the Data Mining Model for the Customers' Value, Customers' Classification, etc. Simulated mining has been done in the SAS Enterprise Miner 4.1® with customers' data collected from the questionnaires, which will be contributory when insurance companies adopt data mining.

References

[1]
Peter C. Verhoef, Bas Donkers, Predicting customer potential value an application in the insurance industry, Decision Support System{M}, 32, 2001, 189--199.
[2]
Janny. C. Hoekstra, Eelko. K. R. E. Huizingh, The Lifetime Value Concept in Customer-Based Marketing, Journal of Market Focused Management {M}, 3, 1999, 257--274.
[3]
(US) Alex Berson, Stephen Smith, Kurt Thearling, Translated by Qi He, Yan Zheng, Establishing Data Mining Application in orienting CRM, (2001).
[4]
Yanjie Lv, Tao Yin, Qi Wang, Customer Relationship Management and its Subject Analyses{M}, 2002.

Cited By

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  • (2022)An online statistical analysis of the hotel management and operation performance modelApplied Mathematics and Nonlinear Sciences10.2478/amns.2021.2.00241Online publication date: 30-Nov-2022
  • (2011)Decision Tree Technique for Customer Retention in Retail SectorIntegrated Computing Technology10.1007/978-3-642-22247-4_11(123-131)Online publication date: 2011
  • (2010)Development of knowledge model for insurance product decision using the associative classification approach2010 10th International Conference on Intelligent Systems Design and Applications10.1109/ISDA.2010.5687120(1481-1486)Online publication date: Nov-2010

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cover image ACM Other conferences
ICEC '05: Proceedings of the 7th international conference on Electronic commerce
August 2005
957 pages
ISBN:1595931120
DOI:10.1145/1089551
  • Conference Chairs:
  • Qi Li,
  • Ting-Peng Liang
Permission to make digital or hard copies of all or part of this work for personal or classroom use is granted without fee provided that copies are not made or distributed for profit or commercial advantage and that copies bear this notice and the full citation on the first page. Copyrights for components of this work owned by others than ACM must be honored. Abstracting with credit is permitted. To copy otherwise, or republish, to post on servers or to redistribute to lists, requires prior specific permission and/or a fee. Request permissions from [email protected]

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Association for Computing Machinery

New York, NY, United States

Publication History

Published: 15 August 2005

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Author Tags

  1. CRM
  2. customers' value
  3. data mining
  4. insurance company

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Overall Acceptance Rate 150 of 244 submissions, 61%

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Cited By

View all
  • (2022)An online statistical analysis of the hotel management and operation performance modelApplied Mathematics and Nonlinear Sciences10.2478/amns.2021.2.00241Online publication date: 30-Nov-2022
  • (2011)Decision Tree Technique for Customer Retention in Retail SectorIntegrated Computing Technology10.1007/978-3-642-22247-4_11(123-131)Online publication date: 2011
  • (2010)Development of knowledge model for insurance product decision using the associative classification approach2010 10th International Conference on Intelligent Systems Design and Applications10.1109/ISDA.2010.5687120(1481-1486)Online publication date: Nov-2010

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