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Author Question: Briefly describe analytical customer relationship management (CRM) systems. What will be an ideal ... (Read 179 times)

storky111

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on: Jul 7, 2018
Briefly describe analytical customer relationship management (CRM) systems.
 
  What will be an ideal response?

Question 2

The order-to-cash process entails subprocesses such as price and terms negotiations, issuing of the purchase order, receiving the goods, and receiving and paying the invoice.
 
  Indicate whether the statement is true or false


iman

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Reply #1 on: Jul 7, 2018
Answer to Question 1

Analytical CRM focuses on analyzing customer behavior and perceptions in order to provide the business intelligence necessary to identify new opportunities and to provide superior customer service. Organizations that effectively utilize analytical CRM can more easily customize marketing campaigns from the segment level to even the individual customer. Such customized campaigns help to increase cross- or up-selling (i.e., selling more profitable products or identifying popular bundles of products and services tailored to different market segments) as well as retain customers by having accurate, timely, and personalized information. Analytical CRM systems also are used to spot sales trends by ZIP code, state, and region as well as specific target markets within those areas. Key technologies within analytical CRM systems include data mining, decision support, and other business intelligence technologies that attempt to create predictive models of various customer attributes.

Answer to Question 2

FALSE


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