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Customer Relationship Management: A Case Study

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Introduction:
Customer relationship management (CRM) is a term that refers to practices, strategies and advances that organizations use to oversee and analyze customer interactions and information all through the customer lifespan, with the objective of improving business associations with customer, aiding in customer maintenance and driving sales growth. CRM systems are designed to arrange data on customer crosswise over distinctive stations or purposes of contact between the customer and the company which could include the company's site, phone, live talk, standard mail, marketing materials and online networking. CRM systems can also give customer confronting staff point by point data on customer' personal information data, buy history, …show more content…

The distinction between the upcoming three areas is generally accepted since there are many different approaches. First, analytical CRM refers to capturing, storing, extracting, integrating, processing, interpreting, distributing, using and reporting customer related date to ensure the values of the company and the customer. Customer-related information is the base on which analytical CRM creates upon. Enterprise –wide archives contains customer related data such as sales data, financial data, marketing data and service data. External sources could add date to these internal sources such as the lifestyle details from business intelligence organizations with data mining tools application available a company can question these data. Intelligent questioning to these data could give answers to inquiries like, who is the most important customer? Which customer can easily shift to rival organizations? Which customer is likely to answer to a certain offer? For example, Spanish insurer AXA Saguaros e Inversions (AXA) is a fellow of the world giant AXA group, has over two million clients and has an income more than 1.8 billion Euros. Since AXA has many services and products marketing crusades all over Spain the company needed wider understanding of its clients so it can be able to make more personalized offers and apply client loyalty campaigns. AXA resorted to CRM supplier SAS’s data mining solution to foresee policy cancellation models. The solution makes profiles and foresees models for clients information which allows better aimed campaigned management, sale force automation, call center management and other dynamics included in client relationship management. The model was implemented to ongoing and cancelled approaches in many offices, to check the accuracy of it before bringing it to effective action over Spain. Furthermore the model was used to form two control groups that

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