Term
| customer relationship management (CRM) |
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Definition
| managing all aspects of a customers relationship with an organization to increase customer loyalty and retention and an organizations profitability |
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Term
| with CRM an organization tracks: |
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Definition
| how recently a customer purchased items, how frequently a customer purchases items, how much a customer spends on each purchase |
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Term
| CRM reporting technologies |
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Definition
| help organizations identify their customers across other applications |
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Term
| CRM analysis technologies |
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Definition
| help organizations segment their customers into categories such as best and worst customers |
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Term
| CRM predicting technologies |
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Definition
| help organizations make predictions regarding customer behavior such as which customers are at risk of leaving |
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Term
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Definition
| supports traditional transactional processing for day to day operations |
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Term
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Definition
| supports back office operations and strategetic analysis and includes all sysytems that do not deal directly with customers |
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Term
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Definition
| compile customer information from a variety of sources and segment the information for different marketing campaigns |
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Term
| campaign management systems |
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Definition
| guide users through marketing campaigns performing such tasks as campaining definition, planning, scheduling, segmentation, and success analysis |
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Term
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Definition
| selling additional products or services to a customer |
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Term
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Definition
| increasing the value of the sale |
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Term
| sale force automation (SFA) |
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Definition
| a system that automatically tracks all of the steps in a sales process |
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Term
| sales management CRM systems |
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Definition
| automate each phase of the sales process |
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Term
| contact management CRM system |
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Definition
| maintains customer contact information and identifies potential customers |
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Term
| oppertunity management CRM systems |
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Definition
| target sales opportunites by finding new customers or companys for future sales |
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Term
| the 3 primary operational CRM technologies a customer service department can implement: |
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Definition
| contact center, web based self service, call scripting |
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Term
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Definition
| occurs when a website can know enough about a person to appeal to the person |
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Term
| supplier relationship management(SRM) |
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Definition
| keeping suppliers satified by evaluating and categorizing suppliers for different projects, which optimizes supplier selection |
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Term
| partner relationship management (PRM) |
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Definition
| focuses on keeping vendors satified by managing alliance partner and reseller relationships that provide customers with optimal sales channel |
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Term
| employee relationship managment (ERM) |
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Definition
| provides employees with a subset of CRM applications available through a web browser |
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Term
| data, analysis, and decision latency |
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Definition
| time between when each are ready |
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Term
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Definition
| process of analyzing data to extract info not offered by the raw data alone |
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Term
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Definition
| reveals the degree to which variables are related and the nature and frequency of these relationships in the information |
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Term
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Definition
| analyzes such items as websites and checkout scanner information to detect customers buying behavior and predict future buying bylooking at affinities |
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Term
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Definition
| predictions made on the basis of time series information |
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Term
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Definition
| time stamped information collected at a particular frequency |
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