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Describe how to identify the best customers. Customer relationship management, as a process strategy, attempts to manage the interactions between a company and its customers.
To be successful, organizations must identify customers who yield high profitability or high potential profitability. To accomplish this task, significant amounts of information must be gathered from customers, stored and integrated in the data warehouse, and then analyzed for commonalities that can produce segments that are highly similar, yet different from other customer segments. A useful approach to identifying the best customers is recency-frequency-monetary (RFM) analysis.
Data mining uses RFM, predictive modeling, and other approaches to identify significant relationships among several customer dimensions within vast data warehouses. These significant relationships enable marketers to better define the most profitable customers and prospects.
1. Explain the concept of data mining. Provide five examples of companies that are currently using data mining and explain why each is using it.
Let's also take a look at some examples of organizations and their training programs. Take some time to research a few organizations of your choice on the Web (if you need some suggestions, you might try General Electric, Pfizer, or Qualcomm). The..
After reading the chipping away at Intel case study what was a pressure for change? Give an example of a similar pressure for change that was experienced by another organization.
Leadership and Leadership Development
The case described in the Introduction is not atypical, even with as much emphasis as there is on information security; it is a good example of where an organization has violated the HIPAA and/or state laws.
Officials havelooked at all available evidence and come to the conclusion that 15 percent of ending accounts receivable($160,000 ×15 percent or $24,000) is most likely to prove to be uncollectible.How does application of the percentage of receivab..
Kim Allred is relatively new as a caretaker, having been promoted only two months before and before her promotion, she had worked for the company for 7-years as a sales specialist in office equipment.
an overview of the approaches of studying leadershipprepare an overview on one of the major approaches to studying
Although there is no clear definition of privacy, Patricia Werhane outlines three rights that help to define a broad definition. What are these three rights?
Analyze political, social, ethical as well as legal differences facing both organizations as well as determine the impact these differences have on management decision making
Who is missing from the calculation of the unemployment rate? What does this mean in terms of who is out of work and who is counted as unemployed? Examine the unemployment rate over time and across the states. Draw three conclusions from these statis..
IBM Offers Training and pay cuts to its employees to learn new Technologies. Is this program strategic? Why or Why Not? Should the employees salaries be reduced for the time they attend training programs? Provide a rationale for your answer. What ..
Module 1 introduced the nature of international business and global economic development and tried to impress upon you the broadening scope and influence of globalization. In Parts A and B of this assignment, you will reflect back on the research ..
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