The Contribution of Data Science Applied to Customer Relationship Management

Abstract

In the face the contemporary world lives, and the consequent data produced at an unprecedented speed through digital media platforms, the data are nowadays called the new global currency. It raises numerous opportunities to improve outcomes in businesses, namely at the level of customer relationship management (CRM) strategies and their systems. Nevertheless, how analytics can be applied and support the customer relationship processes seems unclear for academics and industries. To better connect customer relationship processes needs and what data science analytics can offer, this chapter presents a systematic literature review around the concepts, tools, and techniques behind this field, looking particularly on customer acquisition and customer retention in businesses. The outcomes highlight that academic researcher works in this field are very scare and recent. Searching the Scopus and Web of Science databases resulted in only 12 documents from 2013 to 2020, eight of them published in the last two years.