Reichheld‚ Fred (2006). The Microeconomics of Customer Relationships. MIT Sloan Management Review. Vol. 47‚ No. 2 Article Summary The purpose of this article author‚ Fred Reichheld discusses the microeconomics of customer relationships. How customer relationships affect a company’s growth rate and the financial performance. Various companies like‚ General Electric Company uses "net-promoter score" as a metric tool to determine the customer relationships in its company. The NPS system is based
Premium Question Customer Company
Customer Relationship September 9‚ 2014 Big Data Throughout most of the twenty first century‚ technology has boomed and many companies are now able to store large quantities of data in a small space‚ compared to previous years. Big Data is the process of collecting information based on structured data and unstructured data. Big Data is something that companies collect to try and provide the best customer experience‚ however this mass collection has its setbacks. Some of the positive aspects
Premium Data Management Marketing
When my brother and I got our first computer‚ we couldn’t even begin to comprehend the amounts of informations we could access. So we just began using it for benign things‚ like video games and music. It was already at that point when we realized that this is something revolutionary‚ something that will not go away in a couple of years. Just ten years ago‚ I couldn’t imagine anything more advanced than what I had in my room. The first ever computer was the famous ENIAC; it weighed about thirty tons‚
Premium Education Information technology Operating system
Discuss the relationship between Media’ and Information Technology’ The term Media’ could today be defined as a collective term for television‚ radio‚ cinema and the press. The media are nowadays often discussed as a single entity‚ because of their combined importance as providers of entertainment and information‚ their presumed power to mould public opinion and set standards and the growth of cross-ownership among the various sectors. The word was however‚ originally derived from (i.e. is
Premium Television Internet television Streaming media
Customer relationship management or CRM is not just the application of technology‚ but is a strategy to learn more about customers’ needs and behaviours in order to develop stronger relationships with them. It enables businesses to: Understand the customer Retain customers through better customer experience Attract new customer Win new clients and contracts Increase profitably Decrease customer management costs It is usually more profitable in the long run for a company to keep existing
Premium Customer service Customer Customer relationship management
Personal 1 points Question 130 1. A(n) ____ attack is a hacker using a personal computer to break into a system. Answer a. indirect b. hardware c. software d. direct 1 points Question 131 1. A computer is the ____ of an attack when it is used to conduct the attack. Answer a. object b. subject c. target d. facilitator 1 points Question 132 1. ____ of information is the quality or state of being genuine or original. Answer a. Authenticity
Premium Systems Development Life Cycle Security Computer security
1. What does the word “processing” in data processing mean? a. Data processing means gathering information from inputs and produces data 2. Give three examples in which raw data also serves as useful information. b. When the webmaster updates codes for the website c. When using GIS‚ you can enter raw data to manage your data more efficiently d. To print specific things‚ you can send raw data directly to the printer. 3. Give three business examples of data that
Premium Decision support system Decision theory Data
Introduction of customer relationship management 2 Importance of customer relationship management 2 Customer needs Definition 3 Types of customer needs 3 Process of identifying the customer needs…………………………………………………………………………................3 Customer expectations and satisfaction………………………………………………………. Customer expectations……………………………………………………………………………………………………………………………….4 Customer satisfaction……………………………………………………………………………………………………………………………4 Customer satisfaction
Premium Customer service Customer relationship management Marketing
The term Information Technology (IT) was coined by Jim Domsic of Michigan in November 1981. Domsic created the term to modernize the outdated phrase "data processing". Information Technology is a general term that describes any technology that helps to produce‚ manipulate‚ store‚ communicate and/or disseminate information. Presumably‚ when speaking of Information Technology as a whole‚ it is noted that the use of computers and information are associated. “Information Technology” as defined by the
Premium Computer software Computer Information technology
Examination Paper: Customer Relationship Management IIBM Institute of Business Management Examination Paper Customer Relationship Management Section A: Objective Type (30 marks) • • • This section consists of Multiple Choice questions & Short notes type questions. Answer all the questions. Part One questions carry 1 mark each & Part Two questions carry 4 marks each. MM.100 Part One: Multiple Choices: 1. High congruence means: a. High probability of success b. Low probability of success c. Zero
Premium Customer relationship management Customer service