How are analytics used during customer life cycle

Assignment Help Management Information Sys

Reference no: EM133039533

U31218- Customer Experience Management

Assessment : The Reflective Report

Answer the following questions:

Question 1. What is the difference between structured and unstructured data? Define the role of unstructured data to develop better customer insights in an analytical CRM?

Question 2. What is relational database and its role in getting better customer insights in an analytical CRM? Elaborate your answer by comparing resemblance of relational database with the data stored in a simple spreadsheet.

Question 3. What is the functionality of OLAP and OLTP database in an analytical CRM? Why does OLTP database needs to be accurate and up to date for getting correct customer insights?

Question 4. What are data warehouse and data marts? Companies in retail and banking sectors are enthusiastic adopter of data warehouse. Critically evaluate benefits and drawback of data warehouse for these companies and how data warehouse and data marts support analytical CRM. You may explain your answer with a real time example.

Question 5. How are analytics used during customer life cycle? Explain your answer with a real company example.

Question 6. There are three ways to generate analytical insights, standard reports, OLAP analysis and data mining. Critically evaluate and Compare each method and why companies like Facebook, Google, Amazon use data mining techniques to generate analytical insights for their customers as compared to standard reports and OLAP analysis.

Question 7. The Customer Portfolio Management process differs between B2C to B2B contexts. A number of portfolio analysis tools have been developed specifically for B2B contexts, but activity-based costing is more easily applied in B2B contexts, whereas data mining is more visible in B2C contexts.
Critically evaluate why activity-based-costing is more widely used in B2B context and data mining in B2C context.

Question 8. Customer portfolio analysis pays off when it helps companies develop and implement differentiated CRM strategies for each cluster of customers in the portfolio. One of the core customer management strategy is customer acquisition and to ‘start a relationship' with a new customer. The company will need to develop an acquisition plan to recruit the customer onto the value ladder.

i. What is customer acquisition strategy and what strategies used to recruit new customer and start a relationship.
ii. What are the performance indicators for customer acquisition strategies and how the operational CRM applications support customer acquisition and to start a fruitful customer relationship?

Question 9. CRM projects vary in scope, duration and cost, but it is always important to be clear about what business outcomes are desired and to measure the performance of the CRM implementation accordingly.

What are the five major phases of a CRM implementation, and the processes and tools that are used to ensure that CRM projects deliver what is expected of them.

Referencing:Must reference sources using APA 7th.

Attachment:- Customer Experience Management.rar

Verified Expert

Assignment summary consist of Customer Experience Management reflective report. Report consist of answers of difference between structured and unstructured data, analytical CRM, OLAP and OLTP database in an analytical CRM, warehouse and data marts, analytics used during customer life cycle, ways to generate analytical insights, standard reports, OLAP analysis and data mining, Customer Portfolio Management process, and CRM projects.

Reference no: EM133039533

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