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BUS 10123 Study Guide - Summer 2019, Comprehensive Final Exam Notes - Variance, Null Hypothesis, Dependent And Independent Variables


Department
Business Administration Interdisciplinary
Course Code
BUS 10123
Professor
Eric Von Hendrix
Study Guide
Final

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BUS 10123

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Chapter 10, e-Customer Relationship Management
10.1 Introduction
Customer relationship management (CRM)
Focuses on providing and maintaining quality service for customers, by
effectively communicating and delivering products, services, information and
solutions to address customer problems, wants and needs
Can include:
Call handling (the maintenance of outbound and inbound calls from
customers and service representatives)
Sales tracking (the tracking and recording of all sales made)
Transaction support (the technology and personnel used for conducting
business transactions)
10.1 Introduction
eCRM is the application of CRM to an e-business’ strategy
Includes the personalization and customization of customers’ experiences and
interactions with the e-business
Relationship between merchant and customers is distant
Less expensive to keep customers than to acquire new ones
Repeat customers have higher lifetime value than one-time buyers
A customer’s lifetime value is the expected amount of profit derived from a
customer over a designated length of time
Evaluate the potential to profit from a customer
10.2 Tracking and Analyzing Data
Employ tracking devices
Personalize each visitor’s experience
Find trends in customer use
Measure the effectiveness of a Web site over time
ID cards
An ID card enables information to be sent to your computer from a Web
site such as the numerical address of your PC on the Internet, your
browser and your operating system
Click-through banner advertisements
Click-through advertisements enable visitors to view a service or product
by clicking the advertisement
Advertisers can learn what sites generate sales
10.2 Tracking and Analyzing Data
Web Bugs, or clear GIFs
A type of image file embedded in an image on the screen
Site owners allow companies, especially advertising companies, to hide
these information-collecting programs on various parts of their sites
Every time a user requests a page with a Web bug on it, the Web bug
sends a request to the Web bug’s company’s server, which then tracks
where the user goes on the Web.
Log-file analysis
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Data mining
Customer registration
Cookies
10.2.1 Log-File Analysis
When visiting a site, you are submitting a request for information from the site’s server
and the request is recorded in a log file
Log files consist of data generated by site visits, including each visitor’s location,
IP address, time of visit, frequency of visits and other information
Log-file analysis organizes and summarizes the information contained in the log
files
Can be used to determine the number of unique visitors
Can show the Web-site traffic effects of changing a Web site or
advertising campaign
10.2.1 WebTrends Feature
WebTrends provides solutions for tracking visitors
User specifies source of log files, types of reports and location where data is
stored
The analysis is conducted automatically
Collected information can be used to evaluate e-commerce methods, customer service
and Web-site design
Graphical interpretation of the log files can be presented
Can view demographic and geographic data, technical analysis of a Web site’s
effectiveness and top-referring sitessites that most frequently refer visitors to your
site
10.2.1 WebTrends Feature
10.2.1 WebTrends Feature
10.2.2 Data Mining
Data mining
Uses algorithms and statistical tools to find patterns in data gathered from
customer visits
Costly and time consuming to go through large amounts of data manually
Use data-mining to analyze trends within their companies or in the marketplace
Uncovered patterns can improve CRM and marketing campaigns
Discover a need for new or improved services or products by studying the
patterns of customers’ purchases
Data mining software
HNC Software Data Distilleries Applied Metrix Data Instincts and
SmartDrill
10.2.3 Customer Registration
Customer registration
Requiring visitors to fill out a form with personal information that is then used to
create a profile
Recommended when it will provide a benefit to the customer
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