Modeling and Analysis of Customer-Product Relationship for Revenue Growth of Online Telecom Industry

Abstract

Today, it has become very difficult for the telecom industries to generate revenue at the speed they thought it would be. Customer-Product relationship has always been the most important relationship for growth of business. The better this relationship better is revenue generation and better is the growth of company. This paper will focuses on different data mining techniques applied to provide better understanding of customer and product relationship hence help e-commerce business to grow. The three main phases of Customer Relationship management are as follows:

             Customer Identification

             Customer Attraction

             Customer Retention

            As there is better understanding of the customers and products, there is more probability of transactions. If transaction count increases, proportionally even the revenue increases which in turn increases the profit.

          In designing the solution, data mining methods and algorithms play vital role. Concepts such as classification, clustering, prediction techniques, association rule mining and network based learning are used. With all these concepts put together, the solution becomes one of many ways to generate more revenue and help e-commerce business flourish.