customer relationship management (CRM)
involves managing all aspects of a customer's relationship with an organization to increase customer loyalty and retention and an organization's profitability.
provide better customer service, improve call center efficiency, cross-sell products more effectively, help sales staff close deals faster, simplify marketing and sales processes, discover new customers, increase customer revenues.
CRM analysis technologies
help organizations segment their customers into categories such as best and worst customers.
CRM predicting technologies
help organizations make predictions regarding customer behavior such as which customers are at risk of leaving.
supports traditional transactional processing for day-to-day front office operations or systems that deal directly with the sutomers
supports back-office operations and strategic analysis and includes all systems that do not deal directly with the customers.
compile customer information from a variety of sources and segment the information for different marketing campaigns,
campaign management systems
guide users through marketing campaigns performing such tasks as a campaign definition, planning, scheduling, segmentation,and success analysis.
sales management CRM systems
automate each phase of the sales process, helping individual sales representatives coordinate and organize all of their accounts.
contact management CRM system
maintains customer contact information and identifies prospective customers for future sales. include things like maintaining organizational charts, detailed customer notes, and supplemental sales information.
opportunity management CRM systems
target sales opportunities by finding new customers or companies for future sales.
where the customer service representatives answer customer inquiries and respond to the problems through a number of different customer touchpoints.
interactive voice response
directs customers to touch-tone phones or keywords to navigate or provide information.
automatically dials outbound calls and when someone answers, the call is forwarded to an available agent.
web-based self service systems
allow customers to use the web to find answers to their questions or solutions to their problems.
these buttons allow customers to click on a button and talk with a CSR via the internet.
call scripting systems access organizational databases that track similar issues or questions and automatically generate the details for the CSR who can then relay them to the customer.
occurs when a website can know enough about a persons likes and dislikes to fashion offers that are more likely to appeal to that person.
Supplier relationship management
focuses on keeping suppliers satisfied by evaluating and categorizing suppliers for different projects, which optimizes supplier section.
partner relationship management
focuses on keeping vendors satisfied by managing alliance partner and reseller relationships that provide customers with the optimal sales channel.
employee relationship management
provides employees with a subset of CRM applications available thought a web browser. (assist the employee in dealing with customers by providing detailed information on company products, services, and customer orders.)
refers to applications and technologies that are used to gather, provide access to, and analyze data and information to support decision making efforts.
the time it takes a human to comprehend the analytic result and determine an appropriate action.
data mining tools
use a variety of techniques to find patterns and relationships in large volumes of information and infer rules from them that predict future behavior and guide decision making.
segment a heterogeneous population of records into a number of more homogeneous subgroups.
a technique used to divide an information set into mutually exclusive groups such that the members of each group are as close together as possible to one another and the different groups are as far apart as possible
association detection reveals the degree to which variables are related and the nature and frequency of these relationships in the information
market basket analysis
analyzes such items as websites and checkout scanner information to detect customers' buying behavior and predict future behavior by identifying affinities among customers' choices of products and services.
performs such functions as information correlations, distributions, calculations, and variance analysis.
include working time saved in producing reports, selling information to suppliers, etc.
indirectly quantifiable benefits
can be evaluated thought indirect evidence - improved customer service means new business from the same customer, and differentiated service brings new customers.