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What Is Customer Relationship Management System

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Sharif Mair Professor Catherine White Module 6: Research Review Management Information System SUNY Empire State College Term Project Research Review Part A 1. What did you learn? I learned that customer relationship management systems are practices, strategies, and technologies that organizations and companies use to manage and analyze customer interactions and data throughout the customer lifecycle with the company. With the hopes of improving their business relationship, assisting in customer retention and driving sales. These systems are setup to compile information on a potential customer including but not limited to the customer name, phone number, address, item, product or services interested in, purchase history along with other data depending on the organization. Customer relationship management is simply built around people and relationships. In today’s economy it’s hard to start a business.…show more content…
The aim is to filter out the key facts from gathered information and gain customer knowledge (CRMSoftware.com). Analytical customer relationship management (CRM) systems assist top-level executives, managers, marketing, and sales personnel figure out the best way to better serve their customers. Analytical customer relationship management (CRM) systems help management make better decisions, marketing executives to understand the effectiveness of their campaign, sales executives to increase their sales, and support personnel to improve the quality of support given to the customer. Resulting in a stronger relationship between the company and the customer. (CRMSoftware.com). Applications of analytical customer relationship management (CRM) systems are financial forecasting, program evaluation, price optimization, customer satisfaction growth, product development, fraud detection and risk
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