Customer Relationship Management

From Wikipedia, the free encyclopedia

Customer relationship management (CRM) is a customer-centric business strategy with the goal of maximizing profitability, revenue, and customer satisfaction.[1] Technologies that support this business purpose include the capture, storage and analysis of customer, vendor, partner, and internal process information. Functions that support this business purpose include sales, marketing, customer service, training, professional development, performance management, human resource development, and compensation. Technology to support CRM initiatives must be integrated as part of an overall customer-centric strategy. Many CRM initiatives have failed because implementation was limited to software installation without alignment to a customer-centric strategy.[2]

Contents[hide]
1 Overview
1.1 Technology considerations
1.2 Operational CRM
1.3 Analytical CRM
1.4 Collaborative CRM
1.5 Geographic CRM
2 Strategy
3 Successes
4 Privacy and data security
5 Market structure
6 See also
7 References

Electronic Data Interchange (EDI)

What is EDI?

What is Electronic Data Interchange (EDI)? Unlike other electronic data interchange articles, this piece will help provide a complete understanding of the electronic data interchange process, including an overview of EDI benefits and drawbacks.
Basically, the electronic data interchange process is the computer-to-computer exchange of business documents between companies. EDI replaces the faxing and mailing of paper documents. EDI documents use specific computer record formats that are based on widely accepted standards. However, each company may use the flexibility allowed by the standards in a unique way that fits their business needs.
EDI is used in a variety of industries. In fact over 80,000 companies have made the switch to EDI to improve their efficiencies. Many of these companies require all of their partners to also use EDI.

Management Information System

Management information Systems (MIS), sometimes referred to as Information Management and Systems, is the discipline covering the application of people, technologies, and procedures — collectively called information systems — to solving business problems. Management Information Systems are distinct from regular information systems in that they are used to analyze other information systems applied in operational activities in the organization.[1] Academically, the term is commonly used to refer to the group of information management methods tied to the automation or support of human decision making, e.g. Decision Support Systems, Expert systems, and Executive information systems.[1]

Definition

'MIS' is a planned system of collecting, storing and disseminating data in the form of information needed to carry out the functions of management.
The terms MIS and information system are often confused. Information systems include systems that are not intended for decision making. MIS is sometimes referred to, in a restrictive sense, as information technology management. That area of study should not be confused with computer science. IT service management is a practitioner-focused discipline. MIS has also some differences with Enterprise Resource Planning (ERP) as ERP incorporates elements that are not necessarily focused on decision support.
Professor Allen S. Lee states that "...research in the information systems field examines more than just the technological system, or just the social system, or even the two side by side; in addition, it investigates the phenomena that emerge when the two interact." [2].