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Preparing for New Competition in the Retail Industry

Goran Klepac

Source Title: Data Mining in Public and Private Sectors: Organizational and Government Applications

ISBN13: 9781605669069|ISBN10: 1605669067|ISBN13 Softcover: 9781616923075|EISBN13: 9781605669076

DOI: 10.4018/978-1-60566-906-9.ch013

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MLA

Klepac, Goran. "Preparing for New Competition in the Retail Industry." Data Mining in Public and Private Sectors: Organizational and Government Applications, edited by Antti Syvajarvi and Jari Stenvall, IGI Global, 2010, pp. 245-266. https://doi.org/10.4018/978-1-60566-906-9.ch013

APA

Klepac, G. (2010). Preparing for New Competition in the Retail Industry. In A. Syvajarvi & J. Stenvall (Eds.), Data Mining in Public and Private Sectors: Organizational and Government Applications (pp. 245-266). IGI Global. https://doi.org/10.4018/978-1-60566-906-9.ch013

Chicago

Klepac, Goran. "Preparing for New Competition in the Retail Industry." In Data Mining in Public and Private Sectors: Organizational and Government Applications, edited by Antti Syvajarvi and Jari Stenvall, 245-266. Hershey, PA: IGI Global, 2010. https://doi.org/10.4018/978-1-60566-906-9.ch013

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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.

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Preparing for New Competition in the Retail Industry

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