Customer Relationship Management
- Managing all aspects of a customer's relationship with an organization to increase customer loyalty and retention and an organization's profitability.
- CRM allows an organization to gain insights into customer's shopping and buying behaviors.
The Benefits of CRM
- companies that understand individual customer needs are best positioned to achieve success.
- building successful customer relationship is not a new business practise , however, implementing CRM systems allows a company to operate more efficiently and effectively in the area of supporting customer needs.
Evolution of CRM
- CRM Reporting technologies - help organizations segment their customer across other applications.
- CRM Analysis technologies - help organizations segment their customer into categories such as best and worst customers.
- CRM Predicting technologies - help organizations predict customer behavior, such as which customers are at risk of leaving
Operational And Analytical CRM
- Operational CRM supports traditional transaction processing for day to day front office operations or systems that deal directly with the customers.
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