EBK BUSINESS DRIVEN TECHNOLOGY
7th Edition
ISBN: 8220103675451
Author: BALTZAN
Publisher: YUZU
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Chapter 11, Problem 1OC
Program Plan Intro
Customer relationship management (CRM):
This concept came into frame to manage a company’s interaction with current and potential customers. This approach uses data analysis about the customer’s history with a company so as to improve business relationships with customers and it specifically focuses on customer retention and ultimately driving sales growth. It is also useful to learn more about the company’s target audiences and how to fulfill their needs.
Expert Solution & Answer
Explanation of Solution
Importance of customer relationship management:
- Customer relationship management (CRM) manages all the aspects of a customer’s relationship with an organization so as to increase the customer loyalty and retention and an organization’s profitability.
- Customer relationship management (CRM) also lets an organization to gain insights into customer’s shopping and buying behaviors.
- Whenever a customer communicates with a company, the firm gets the chance to build a trusting relationship with that particular customer.
Improving sales with the use of Customer relationship management (CRM):
- Customer relationship management concentrates on maintain the customer retention which helps the organization to work according to the customer needs are attain growth in sales.
- It is necessary to know everything about the customers so as to provide great customer service, which always leads to increase in sales and fortunately customer relationship management (CRM) helps in tracking it.
- Continuous interaction that is facilitated by customer relationship management (CRM) lets the organization to know the current trend and need of the customers which helps to produce the products accordingly which ultimately increases the sales.
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Students have asked these similar questions
Design a dynamic programming algorithm for the Longest Alternating Subsequence problem
described below:
Input: A sequence of n integers
Output: The length of the longest subsequence where the numbers alternate between being larger and
smaller than their predecessor
The algorithm must take O(n²) time. You must also write and explain the recurrence.
Example 1:
Input: [3, 5, 4, 1, 3, 6, 5, 7, 3, 4]
Output: 8 ([3, 5, 4, 6, 5, 7, 3, 4])
Example 2:
Input: [4,7,2,5,8, 3, 8, 0, 4, 7, 8]
Output: 8 ([4, 7, 2, 5, 3, 8, 0,4])
(Take your time with this for the subproblem for this one)
Design a dynamic programming algorithm for the Coin-change problem described below:
Input: An amount of money C and a set of n possible coin values with an unlimited supply of each
kind of coin.
Output: The smallest number of coins that add up to C exactly, or output that no such set exists.
The algorithm must take O(n C) time. You must also write and explain the recurrence.
Example 1:
Input: C24, Coin values = = [1, 5, 10, 25, 50]
Output: 6 (since 24 = 10+ 10+1+1 +1 + 1)
Example 2:
Input: C = 86, Coin values = [1, 5, 6, 23, 35, 46, 50]
Output: 2 (since 86 = 46+35+5)
Design a dynamic programming algorithm for the Longest Common Subsequence problem de-
scribed below
Input: Two strings x = x1x2 xm and y = Y1Y2... Yn
Output: The length of the longest subsequence that is common to both x and y.
.
The algorithm must take O(m n) time. You must also write and explain the recurrence.
(I want the largest k such that there are 1 ≤ i₁ < ... < ik ≤ m and 1 ≤ j₁ < ... < jk ≤ n such that
Xi₁ Xi2 Xik = Yj1Yj2 ··· Yjk)
Example 1:
Input: x = 'abcdefghijklmnopqrst' and y = 'ygrhnodsh ftw'
Output: 6 ('ghnost' is the longest common subsequence to both strings)
Example 2:
Input: x = 'ahshku' and y = ‘asu'
Output: 3 ('asu' is the longest common subsequence to both strings)
Chapter 11 Solutions
EBK BUSINESS DRIVEN TECHNOLOGY
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