Page 29 - DMGT308_CUSTOMER_RELATIONSHIP_MANAGEMENT

Customer Relationship Management

Notes Gather data:
1. Gather Customer Data
2. Analyse Data
3. Formulate Strategy Action

4. Data collection
5. Various sources are considered.
6. Various touch points are accessed.
7. Various parameters are considered

8. Data will be accumulated in a single repository
Analyze the data:
1. Patterns are to be designed for the analysis.
2. Detailed analysis will be performed.

3. Samples will be taken into consideration.
4. Final formulation will be done.
Formulation Strategy:
1. Conclusions will be derived from the analysis.

2. Data segmentation will be done.
3. Models will be prepared.
Action:
1. The final step in the customer intelligence.

2. Actions will be taken based on the strategies planned.
3. Final repository will be stored with the plans.
4. Any organization which is following the above mentioned steps can create a good customer
data repository.

2.1.1 Technology and CRM Technology Components

There are following types of CRM technology:
(a) Operational CRM
(b) Collaborative CRM

(c) Analytical CRM
Let us discuss the three types of CRM in detail.

Operational CRM

This is an ERP like segment of CRM.
Typical business functions involving customer service, order management, invoice or billing or
sales and marketing automation and management are the parts of operational CRM.

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