Chapter 9, Problem 19MLM

Explanation of Solution

Customer relationship management:

• Customer relationship management is a methodology that manages an organization’s communication with their customers.
• This method uses client’s history with the company to improve business relationships.
• Modern customer relationship management constructs sustainable enduring customer relationships that generate value for company and customers.

Analytical CRM:

• This system analyzes customer behavior (analyzes customer information that are generated by operational CRM) and provides business intelligence. It analyzes data for designing, upselling, etc.
• General areas are: Sales data, financial data, and marketing data.
• Examples: Getting feedbacks from online shopping...