Cust relationship mment & BI

Question 1

CRM moves an org from product to customer focus, differentiates it & develops CA. Define.

Answer 1

managing all aspects of a customer relationship with an organisation to increase loyalty, retention & profitability.

Question 2

Features of CRM as business strategy

Answer 2

Id’s customers
Basis of marketing plans/strategy.
Promotes a customer focus
Insights into behavours & preferences

Question 3

Business benefit of CRM

Answer 3

Those who best understand a customers needs are best positioned to achieve CA

Question 4

3 phases of CRM

Answer 4

Reporting - what happened (eg amt of revenue)
Analysing - why happened (eg why production low)
Predicting - what will happen (eg what line to sell)

Question 5

2 primary components if CRM

Answer 5

Operational - direct & indirect contact w customers

Analytical - indicrect operations & strategic analysis.

Question 6

Use different tech for diff departments

Answer 6

Marketing - list generator, campaign mment, cross & up selling.

Sales - sales mment, contact mment, opertunity mment.

Cust service - contact centre, web self serve, call scripting

Question 7

Business Intelligence (BI) is a response to the data rich, info poor phenomenon. What does it do?

Answer 7

gather, access & analyse data & info to support decision making.

Question 8

3 types of BI

Answer 8

Operational
Tactical
Strategic

Question 9

Define data mining

Answer 9

Data mining applies analysis to extract meaning from raw data not available from the data itself.

Question 10

Benefits of BI

Answer 10

Stores all data
Drills down for root causes
Provides up to minute data