Chapter 9 Customer Relationship Management and Business Intelligence – MIS Class Blog
CHAPTER 9 Customer Relationship Management and Marketing In CRM emerged as a viable way of dealing with business-to-business and business-to- consumer relationships in the s. Marketing intelligence 3. CHAPTER 9 & 10 Customer Relationship Management Supply Chain Decision Support Business Intelligence OLAP Data Mining Decision Support Business. Customer Relationship Management and Business Intelligence. Chapter 9. SECTION CUSTOMER RELATIONSHIP MANAGEMENT. Chapter 9.
Marketing departments tend to focus on campaign management; they view costs with a campaign, who their target market is and whether they are able to decide a return on investment for various campaigns. How could a sales department use operational CRM technologies? They could do this through using list generators. List generators are able to provide information on precise features of an organisation e.
Other strategies include campaign definition, planning and systems and cost sell or up sell.
Explain the problem associated with business intelligence. Describe the solution to this business problem: If there is too much data an organisation may have limited knowledge on where data is or who their competitors may be. Hence may not be unable to make the best strategic implementation due to insufficient tools to back up data and support decision making to their strategic goals.
The solution approach that they could take is business intelligence where it helps an organisation make decisions. Functional areas of an organisation can make decisions where they can be able to see more data analysis and reduce the latency of information in making good decisions. Describe business intelligence and its value to businesses: Business Intelligence refers to the tools and analysis that provide access to data for strategic decision making in an organisation for example data miming.
Business intelligence has a value to an organisation in that it can be a whole myriad of things and can be used for many different aspects such as PivotTable on Microsoft Access.
Business Intelligence is used for any tood that gives a longer length assortment of decision making and encourages types of decision making such as patterns and trends. What are two possible outcomes a company could get from using data miming? The two possible outcomes a company could get from data miming is that it can increase profits and allow an organisation to have better sales and confined resources.
CHAPTER 9 & 10 Customer Relationship Management Supply Chain Management. - ppt download
The back office-analytical CRM includes: Describe and differentiate the CRM technologies used by marketing departments and sales departments? The CRM technologies used for marketing departments are: Information sources include website visits, website questionnaires, online and off-line surveys, flyers, toll-free numbers, current customer lists and so on. After compiling the customer list, an organisation can use criteria to filter and sort the list for potential customers.
Filter and sort criteria can include such things as household income, education level and age.
Chapter 9 Customer Relationship Management and Business Intelligence
List generators provide the marketing department with a solid understanding of the type of customer it needs to target for marketing campaigns. These advanced systems can even calculate quantifiable results for return on investment ROI for each campaign and track the results in order to analyse and understand how the company can fine-tune future campaigns.
Up-selling is increasing the value of the sale. CRM systems offer marketing department all kinds of information about their customers and their products, which can help them identify cross-selling and up-selling marketing campaigns.
The CRM technologies used for sales departments are: Features include calendars to help plan customer meetings, alarm reminders signaling important tasks, customizable multimedia presentations and document generation.
These systems can even provide an analysis of the sales cycle and calculate how each individual sales representative is performing during the sales process. Contact management systems include such features as maintaining organizational charts, detailed customer notes and supplemental sales information. One of the more successful campaigns driven by the CRM system allowed 3M to deliver direct mail to targeted government agencies and emergency services in response to the US anthrax attacks in All inquiries to the mail campaign were automatically assigned to a sales representative who followed up with a quote.
In little more than a week, the company had received orders for respirator masks. Opportunities management systems determine potential customers and competitors and define selling efforts, including budgets, and schedules. Advanced opportunity management systems can even calculate the probability of a sale, which can save sales representatives significant time and money when attempting to find new customers.
The primary difference between contact management and opportunity management is that contact management deals with existing customers and opportunity management deals with new customers. How could a sales department use operational CRM technologies?
Sales departments were the first to begin developing CRM systems. Sales departments had two primary reasons to track customer sales information electronically.
First, sales representatives were struggling with the overwhelming amount of customer account information they were required to maintain and track. Second, companies were struggling with the issue that much of their vital customer and sales information remained in the heads of their sales representatives.
One of the first CRM components built to help address these issues was the sales force automation component. Sales force automation SFA is a system that automatically tracks all of the steps in the sales process.
CHAPTER 9 & 10 Customer Relationship Management Supply Chain Management.
SFA products focus on increasing customer satisfaction, building customer relationships and improving product sales by tracking all sales information. Leads and potential customers are the lifeblood of all sales organizations. The three primary operational CRM technologies a sales department can implement to increase customer satisfaction are: Describe business intelligence and its value to businesses? BI technologies provide historical, current, and predictive views of business operations.
Common functions of Business Intelligence technologies are reporting, online analytical processing, analytics, data mining, business performance management, benchmarking, text mining, and predictive analytics. Business Intelligence often aims to support better business decision-making. Though the term business intelligence is often used as a synonym for competitive intelligence, because they both support decision making, BI uses technologies, processes, and applications to analyze mostly internal, structured data and business processes while competitive intelligence, is done by gathering, analyzing and disseminating information with or without support from technology and applications, and focuses on all-source information and data unstructured or structuredmostly external to, but also internal to a company, to support decision making.
Although there could be many factors that could affect the implementation process of a BI system, research by 'Naveen K. Vodapalli' shows that the following are the critical success factors for business intelligence implementation: Mapping solutions to user requirements f.
Performance considerations of the BI system g. Explain the problem associated with business intelligence. Describe the solution to this business problem?
Organizations need to have an agreed and documented business intelligence BI and performance management PM strategy to enable them to deliver real business value from BI technology investments.
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The important thing is not the format and presentation of the strategy itself, but rather the collaborative process of building and agreeing a BI and PM strategy that identifies a shared set of goals based on an appraisal of the current situation. Many organizations have defined an application architecture for their operational and transactional applications.
However, they have not taken the same architectural approach to BI applications.