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ESSAYS ON TEXT MINING FOR IMPROVED DECISION MAKING ...

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useful insights of existing markets for a new product of a company [3]. However here, it is<br />

also necessary to provide an overview and to generate useful insights of the current<br />

technological landscape concerning these new research areas of a company [58]. This is<br />

helpful to support companies’ research planning. A new approach for generating these<br />

insights specifically for large organizations is presented in a further study.<br />

5.2. Study 1: Analyzing existing customers’ websites to improve<br />

the customer acquisition process as well as the profitability<br />

prediction in B-to-B marketing<br />

This study investigates the issue of predicting new customers as profitable based on<br />

information about existing customers in a business-to-business environment. In particular, it<br />

is shown how latent semantic concepts [9] from textual information of existing customers'<br />

websites can be used to uncover characteristics of websites of companies that will turn into<br />

profitable customers. Hence, the use of predictive analytics will help to identify new potential<br />

acquisition targets. Additionally, it is shown that a regression model [4, 10, 19] based on<br />

these concepts is successful in the profitability prediction of new customers. The study<br />

contains a case study where the acquisition process of a mail order company is supported by<br />

creating a prioritized list of new customers generated by this approach. It is shown that the<br />

density of profitable customers in this list outperforms the density of profitable customers in<br />

traditional generated address lists (e.g. from list brokers).<br />

From a managerial point of view, this approach supports the identification of new business<br />

customers and helps to estimate the future profitability of these customers in a company.<br />

Consequently, the customer acquisition process can be targeted more effectively and<br />

efficiently. This leads to a competitive advantage for B2b companies and improves the<br />

traditional acquisition process that is time- and cost-consuming with traditionally low<br />

conversion rates.<br />

5.3. Study 2: Predicting E-Commerce Company Success by Mining<br />

the Text of Its Publicly-Accessible Website<br />

The second study analyzes the impact of textual information from e-commerce companies'<br />

web sites on their commercial success. The textual information is extracted from web content<br />

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