Answered: Describe the evolution of CRM from…

Database System Concepts

7th Edition

ISBN:9780078022159

Author:Abraham Silberschatz Professor, Henry F. Korth, S. Sudarshan

Publisher:Abraham Silberschatz Professor, Henry F. Korth, S. Sudarshan

Chapter1: Introduction

Section: Chapter Questions

Problem 1PE

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Describe the evolution of CRM from on-premises solutions to cloud-based and SaaS CRM platforms and their implications for businesses.

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Step 1: Concept of Customer Relationship Management (CRM)

Customer Relationship Management (CRM), often abbreviated as CRM, refers to the practices, strategies, and technologies that organizations employ to manage and analyze customer interactions and data throughout the customer lifecycle. The main objective of CRM is to cultivate stronger business relationships, retain customers, drive sales growth, and gather personalized customer data for tailored experiences.

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