CRM involves the implementation of technologies to help organise, automate and syncronise business processes in order to provide the best possible service to new, existing and future customers (e.g. Identifying types of customers, designing individual marketing campaigns, understanding customer buying behaviour).
CRM aims to:
- make call centres more efficient
- cross sell products more effectively
- help sales staff close deals faster
- simplify marketing and sales processes
- discover new customers
- increase customer revenues
2. Operational customer relationship management involves the systems which deal directly with customers. In other words, invloving the daily front of house systems which including the business processes of sales, marketing and service (e.g. Call made, problem logged). Operational CRM also keeps a record of their customer history in order to store and organise their daily dealings with customers. This system is considered short term.
Analytical customer relationship management deals with the back office operations and strategic analysis (Looking for future patterns and trends). These are the systems which do not deal directly with customers and are considered long term.
3. Technologies used by marketing departments aim to manage the different marketing campaings and involves information such as costs, target audience and return on investment.
Technologies used by sales departments help to coordinate and streamline the process of sales by helping to organise employees jobs, calanders, contacts, appointments and reach a wider range of customers.
4. A sales department could use operational CRM technologies in a number of ways:
- List generators: List generators will help sales departments to compile information on their customers from a range of sources and help them to segment and create a more specific, targeted campaign.
- Campaign management: Will provide sales employees with a greater knowledge of the use and implentation of the different marketing campaigns.
- Cross-selling and up-selling: This will allow sales employees to gain greater knowledge on what items/services need to be pushed and how this can be done (via cross-selling) and where sales should be increased (up-selling).
5. Business Intelligence is considered a long term tool. It refers to the technologies that provides a business with access to and analysis of important data which enable strategic decision making and optimise business performance. Business Intelligence is valuable to a business because it allows managers to uncover patterns and trends within the ever changing business environment. Helping them to better cope with change and other situations which may arise.
6. A problem with Business Intelligence is 'Data rich, information poor' - there is so much information ready on hand to be analysed and used but no way for it to be accessed by anyone but the IT department. It is because of this that it is hard for a business to uncover their own strengths and weaknesses.
A solution to this business problem could be to shorten the latencies (the measure of time delays experienced within a system). This will allow for a faster, more efficient and effective time frame to analyse the necessary data to be used during the decision making process.
7. Data mining is the application of statistical techniques used to find patterns and relationships among data to classify and predict.
Two possible outcomes a company could get from using data mining could be:
- A more efficient and effective use of information
- A greater increase in sales through the ability to better understand their customer and their customers ever changing needs, wants and demands.
Follow this link for more information on data mining
5. Business Intelligence is considered a long term tool. It refers to the technologies that provides a business with access to and analysis of important data which enable strategic decision making and optimise business performance. Business Intelligence is valuable to a business because it allows managers to uncover patterns and trends within the ever changing business environment. Helping them to better cope with change and other situations which may arise.
6. A problem with Business Intelligence is 'Data rich, information poor' - there is so much information ready on hand to be analysed and used but no way for it to be accessed by anyone but the IT department. It is because of this that it is hard for a business to uncover their own strengths and weaknesses.
A solution to this business problem could be to shorten the latencies (the measure of time delays experienced within a system). This will allow for a faster, more efficient and effective time frame to analyse the necessary data to be used during the decision making process.
7. Data mining is the application of statistical techniques used to find patterns and relationships among data to classify and predict.
Two possible outcomes a company could get from using data mining could be:
- A more efficient and effective use of information
- A greater increase in sales through the ability to better understand their customer and their customers ever changing needs, wants and demands.
Follow this link for more information on data mining
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