Preparing for New Competition in the Retail Industry

Preparing for New Competition in the Retail Industry

Author: 
Klepac, Goran
Place: 
Hershey, PA
Publisher: 
IGI Global
Date published: 
2010
Record type: 
Editor: 
Syvajarvi, Antti
Journal Title: 
Data Mining in Public and Private Sectors
Source: 
Data Mining in Public and Private Sectors
Abstract: 

A business case presents a retail company facing new competitors and consequently preparing a customer retention strategy. The business environment in which the company was operating prior to the arrival of new competitors can be described as a stable market. Bearing in mind the plans and marketing activities of a competitor retail chain and making use of the data mining methods a system is being devised for the purpose of preventing or at least buffering the churn trend. Development of an early warning indicator system based on data mining methods is also being described as a support to the management in early detection of both market opportunities and threats. Research in data mining could also be concentrated on applying existing data mining techniques to find the best solution regarding practical business problems in the public or private sector. Knowledge regarding how some business cases were solved using data mining techniques could contribute in a better understanding of the nature or data mining nature and help solve specific business issues.

Series: 
Advances in Data Mining and Database Management

CITATION: Klepac, Goran. Preparing for New Competition in the Retail Industry edited by Syvajarvi, Antti . Hershey, PA : IGI Global , 2010. Data Mining in Public and Private Sectors - Available at: http://library.au.int/preparing-new-competition-retail-industry