Data Mining Weekly Assignment 6: LIFT; CRM; AFFINITY POSITIONING; CROSS-SELLING AND ITS ETHICAL CONCERNS. What is meant by the term “lift”? The term “lift” describes the improved performance of an exact or specific amount of effort on a modeled sampling‚ as opposed to a random sampling (Spang‚ 2010). In other words‚ if you are able to market via a model to say‚ a given number of random customers (e.g. 1000)‚ and we expect that 50 of them would be successful‚ then a model that can generate 75
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Chapter 1 Definitions of Data‚ Information‚ Knowledge and wisdom * Data – Data items refer to an elementary description of things‚ events‚ activities‚ and transactions that are recorded‚ classified‚ and stored but are not organized to convey any specific meaning. * Data items can be numbers‚ letters‚ figures‚ sounds‚ and images. * Information – Refers to data that have been organized so that they have meaning and value to the recipient. * Knowledge – Consists of data and/or information
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Customer Relationship Management at “BHARTI AIRTEL” Name of the student | PG Roll No: | Aditya Kaushik | PG20112204 | Biswajyoti Mohanty | PG20112059 | Charu Mishra | PG20112009 | Ekta Chaudhary | PG20112100 | Mohit Gupta | PG20112040 | Nitesh Omray | PG20112084 | Sriprakash | PG20112085 | Yatin Bhatia | PG20112061 | Submitted to | Mrs. Poonam nair | Subject | Customer Relationship Management | Submitted on | 22-11-2012 | Marks Allotted | | Remarks(if any) | |
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on our hands Subject: CRM-case study chapter1 Case Summary The case is about KLM Flying Dutchman expanded by 20% in less than six months. The reason behind this was their attention paid to CRM. KLM CRM director Cristina Zanchi maximized their revenues per customer by utilizing the customer insight to augment their service. They wanted to interact with the customer and enhance the customer experience‚ thereby revenues. At the beginning KLM’s plan to introduce CRM system failed as it required
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Impact of E-Commerce on Marketing Marketing is one of the business function most dramatically affected by emerging information technologies. Companies can use the web to provide ongoing information‚ service and support‚ creating positive interaction with customers that can serve as the foundation for long term relationships and encourage repeat purchases. Even cyber shopping allows customers to sit in the comfort of their homes and purchase their goods. One can shop any kind of product or service
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nature‚ technological advancements‚ and its ability to attract and retain potential customers has received tremendous attention form the organizations. CRM when deployed effectively helps organization to focus directly on customer and succeed in customer-centric environment. The concept of customer relationship management (later referred as CRM) is not very old. It originated from the early 1990’s because of the emerging demands in the world (Ling and Yen‚ 2001; Xu et al.‚ 2002). The roots of
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customers were and how to make them loyal customers. One option was to use CRM software. CRM had been a fad that had recently swept the industry‚ but due to Carnival’s conservative stance toward IT they did not follow suit. I think that CRM could definitely help Carnival gather and analyze customer data in order to gain new customers and keep existing customers. However‚ I don’t think that Carnival is at a point yet that CRM
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customer relationship management practices on insurance sector in Odisha market. The research study mainly focuses on the the pattern of service and the facilitation process for the sake of customers adopted by the CRM driven insurance companies in Odisha.Customer Relationship Management(CRM) practice is now becoming imperative and need of the hour in the cut throat competition held in the insurance sector. Initially LIC of India was the sole insurance player having larger market share but after liberalization
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Should Canyon ranch implement a CRM strategy? What are some of the major considerations? Canyon Ranch should absolutely implement a CRM strategy. For years Canyon Ranch has been the leader in the luxury segment of the spa industry‚ with a unique value proposition. However‚ competition has started becoming an increasing threat‚ as the trend has shifted towards convergence between medicine and spa services. There are a number of new players‚ and in order to maintain that point of differentiation
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Customer Relationship Management (CRM) is universally appropriate or applicable to all businesses. Customer relationship management refers to a series of processes‚ focused on initiating two-way communication exchanges with customers to have a detailed knowledge of their specific needs and buying patterns. The major benefit of a CRM system is that it helps business organizations in determining the type of customer best suited for the growth of their business. CRM enables business organizations to
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