Something approaching science?

The customer relationship management (CRM) industry is set to be worth $76.3 billion by 2005 but over 50% of projects will fail to meet benefit objectives.
  

Something Approaching Science

Cluster analysis procedures in the CRM era

Agnes NairnUniversity of Bath andPaul BottomleyCardiff University

Introduction

As customer relationship management (CRM) sweeps through global business there is reawakened interest by managers, consultants and academics alike in the classic concept of segmentation. According to a recent PriceWaterhouseCoopers survey (Brown 1999), CRM evolves within a firm in three stages: first, the acquisition of customer data; second, the segmentation of customers into discrete groups; and third, the application of differential relationship management strategies to each identified segment and, in some circumstances, to each individual customer....

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