Any typical DSS consists of three main components, namely database, software system and user interface. The data-driven DSS relies on data mining to provide patterns and information about the data being assessed. The software component of the DSS consists of various mathematical and analytical models that are used to analyse the complex data, thereby producing the required information. Elaborate on the at least FIVE (5) commonly used mathematical and statistical models utilised by the software component of the DSS.

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Types of CRM

The full form of CRM is Customer Relationship Management. CRM is a tool that companies use for developing, retaining and acquiring customer related information. The enterprise uses a combination of practices, strategies, and technologies to manage or analyze customer interactions and data throughout the customer lifecycle.