ITM 102 Lecture Notes - Lecture 1: Business Intelligence, Software As A Service, Scalability

• School: Ryerson University
• Department: Information Technology Management
• Course: ITM 102
• Professor: Bob Hudyma

Document Summary

Most competitors are only a mouse click away: crm provides insight into customers" shopping and buying behaviors, understanding the fundamentals of crm means understand the following: Crm as a business strategy: must be embraced not only as a type of is, but also a strategy on an enterprise level, crm is actually a process and business goal enhanced by using is. Example: a casino that tracks all of your moves you ever made at any of its casino"s. In the event you are losing a lot, the system will offer you free coupons or dinner that makes evening losing customers feel a little bit luckier . Recency how recently a customer purchased items. Frequency how frequently a customer purchases items. Monetary value how much a customer spends on each purchase: after gathering this initial crm data, it can compile the data to identify patterns and create marketing campaigns, sales promotions, and services to increase business.