ITM 102 Chapter Notes - Chapter 6: Sales Process Engineering, Customer Service Advisor, Apple Pie

• School: Ryerson University
• Department: Information Technology Management
• Course: ITM 102
• Professor: Djordje Jankovic

Document Summary

Customer relationship management involves managing all aspects of customer"s relationship with an organization to increase customer loyalty and retention, and an organization"s profitability. Crm fundamentals includes the following: crm as a business strategy. Increase customer revenues o o o o o o o o. Phases of crm: reporting, analyzing, predicting: operational and analytical crm. Rfm recceny, frequency, monetary value allow an organization to track the following. Crm reporting systems identifies their customers across other applications. Crm analysis systems segments their customers into categories such as best and worst customers. Crm predicting systems make predictions about customer behaviour such as which customers are at risk of leaving. Operational crm supports traditional transactional processing for day to day front office operations that deal directly with customers. Analytical crm - supports back office operations and strategic analysis and includes all systems that do not deal directly with the customers.