Fuzzy Modeling of Client Preference in Data-Rich Marketing Environments

M. Setnes and Uzay Kaymak ()

ERIM Report Series Research in Management from Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus University Rotterdam

Abstract: Advances in computational methods have led, in the world of financial services, to huge databases of client and market information. In the past decade, various computational intelligence (CI) techniques have been applied in mining this data for obtaining knowledge and in-depth information about the clients and the markets. This paper discusses the application of fuzzy clustering in target selection from large databases for direct marketing (DM) purposes. Actual data from the campaigns of a large financial services provider are used as a test case. The results obtained with the fuzzy clustering approach are compared with those resulting from the current practice of using statistical tools for target selection.

Keywords: client segmentation; direct marketing; fuzzy clustering; fuzzy systems (search for similar items in EconPapers)
JEL-codes: C8 M M11 M31 R4 (search for similar items in EconPapers)
Date: 2000-11-13
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