Customer Intelligence as the Powerful Means for Turning Information into Profit

2011 ◽  
pp. 179-196
Author(s):  
Sanda Renko
Keyword(s):  
Customer Loyalty ◽  
Customer Relationships ◽  
Strategic Decision ◽  
Easy Access ◽  
Accurate Information ◽  
Customer Data ◽  
Attitudes And Behaviors ◽  
Customer Defection ◽  
Customer Intelligence ◽  
Insight Into

Increasing competition and decreasing customer loyalty forced retailers to obtain accurate information about customers’ existing and future needs, their profitability, behaviour, and trends in purchasing. Due to the rapid advancement in technology, retailers have easy access to vast amounts of information about their customers. They can collect and manage customer data and understand their behaviour patterns. The main purpose of the Customer Intelligence is to provide insight into customer’s needs, attitudes, and behaviors towards particular retailer, and all elements of its business as well. In such a way, the retailer is able to build deeper and more effective customer relationships and to improve company’s strategic decision. This chapter focuses on different aspects of Customer Intelligence and the growing interest and importance for its implementation in the praxis. Moreover, the chapter is trying to clarify some misunderstandings of the concept. The study conducted among retail companies dealing with ICT equipment and services on the Croatian market pointed out that Customer Intelligence provided retailers with a successful decrease of the rate of customer defection and a increase in revenues generated by customers.

Leveraging Customer Data Integration for Effective E-CRM Analytics

2011 ◽  
pp. 703-708
Author(s):  
Thomas P. Van Dyke ◽  
Hamid R. Nemati ◽  
Christopher D. Barko
Keyword(s):  
Enterprise Resource Planning ◽  
Customer Loyalty ◽  
Resource Planning ◽  
Customer Relationships ◽  
Customer Relationship ◽  
Success Factor ◽  
Holistic View ◽  
Customer Data ◽  
Customer Information ◽  
Critical Success

A holistic view of the customer is a desirable resource in many organizations today. The findings from a recent DMG Consulting study confirm this reality—possessing integrated customer information is a critical success factor in 11 of the 12 business challenges facing organizations (Kharbanda & Dasgupta, 2001). To achieve a single customer view in today’s marketplace often characterized by increasing global competition, shrinking product lifecycles, and decreasing customer loyalty, companies are considering customer analytical technologies to uncover previously unknown and valuable insights. These insights strengthen customer relationships through greater responsiveness and customization, thereby boosting customer loyalty. Many organizations now believe one of the fundamental instruments for creating competitive advantage is deploying information technology that supports and fosters one-to-one relationships with customers (Shoemaker, 2001). This type of customized service can be achieved through customer relationship management (CRM) and electronic CRM (e-CRM) technologies, which enable organizations to maximize their customer relationships and increase profits by leveraging people, processes, and technology for more effective acquisition, retention, and cross-selling/up-selling opportunities. However, a holistic and integrated customer view remains elusive within most companies. Many businesses still struggle with a basic understanding of who their customers are, what they want, and what they contribute to or cost the company. This is due to the myriad of systems typically found in organizations that contain some form of customer data—CRM and database marketing, legacy and ERP (enterprise resource planning), customer service, order management, financial, call center, and sales force automation systems. In addition, integration complexity grows as organizations add external sources such as customer survey, demographic, credit, and lifestyle data. Integrating relevant data to enable a holistic view of the customer requires overcoming many obstacles, which typically encompass duplicate data, incompatible and conflicting definitions, and ownership/political battles.

A Novel Integrated Reliability Test System for BEOL TDDB Study

2012 ◽  
Author(s):  
Jifeng Chen ◽  
Peilin Song ◽  
Thomas M. Shaw ◽  
Franco Stellari ◽  
Lynne Gignac ◽  
...  
Keyword(s):  
Preliminary Analysis ◽  
Dielectric Breakdown ◽  
Test System ◽  
Accurate Information ◽  
Reliability Test ◽  
Electrical Measurements ◽  
Time Dependent Dielectric Breakdown ◽  
Microscopy Images ◽  
Insight Into

Abstract In this paper, we propose a new methodology and test system to enable the early detection and precise localization of Time-Dependent-Dielectric-Breakdown (TDDB) occurrence in Back-End-of-Line (BEOL) interconnection. The methodology is implemented as a novel Integrated Reliability Test System (IRTS). In particular, through our methodology and test system, we can easily synchronize electrical measurements and emission microscopy images to gather more accurate information and thereby gain insight into the nature of the defects and their relationship to chip manufacturing steps and materials, so that we can ultimately better engineer these steps for higher reliable systems. The details of our IRTS will be presented along with a case study and preliminary analysis results.

scholarly journals There's no Place like Home: Oklahoman's Preferences for Site of Death

2008 ◽  
Vol 1 ◽  
pp. PCRT.S1058 ◽  
Author(s):  
Marianne Matzo ◽  
Kamal Hijjazi
Keyword(s):  
Palliative Care ◽  
Terminal Illness ◽  
Income Level ◽  
Stated Preferences ◽  
Care Needs ◽  
Attitudes And Behaviors ◽  
Dying At Home ◽  
Palliative Care Needs ◽  
Insight Into ◽  
At Home

Objective This study sought to document Oklahomans knowledge, attitudes, and behaviors regarding palliative care; this paper focuses on subjects stated preferences for where they would choose to die. Design Quantitative study used a random state-wide telephone sample of Oklahoma residents. Subjects Data from 804 residents in the State of Oklahoma between November and December (2005). Results An overwhelming majority of the respondents (80%) reported preference to die at home in the event that they suffer a terminal illness. The proportion of respondents under the age of 65 who preferred to die at home (80.9%) was slightly higher than those aged 65 and over (74.8%). Also, while 81.4% of the female respondents reported preference for dying at home, 75.8% of the male respondents shared such preference (P < 0.05). More married respondents (82.7%) than non-married respondents (74.7%) reported preference for dying at home (P < 0.01). A significant association (P < 0.05) between income level and preference for dying at home was noted. While 84.3% of those with income level at $21,000 or more reported reference for dying at home, 76.4% of those with income below $21,000 reported the same preference. Conclusions This paper offers insight into factors that influence Oklahoman's stated preferences for site of death that can assist the statewide agenda in the planning and provision of palliative care. This information can be adapted in other states or countries to determine palliative care needs.

Building trust by signaling trustworthiness in service retail

2014 ◽  
Vol 28 (5) ◽  
pp. 361-373 ◽  
Author(s):  
Husni Kharouf ◽  
Donald J. Lund ◽  
Harjit Sekhon
Keyword(s):  
Customer Loyalty ◽  
Structural Equation ◽  
Positive Impact ◽  
Past Research ◽  
Customer Relationships ◽  
Mediating Effect ◽  
Equation Modeling ◽  
Content Type ◽  
Survey Responses ◽  
Customer Trust

Purpose – The purpose of this paper is to investigate the role of retailer trustworthiness in driving customer trust and the subsequent impact on loyalty. The authors position trustworthiness as a mediator in the link between retail strategies and the development of trust. They model customer loyalty to the service retailer as a function of the trust created through trustworthy perceptions. Design/methodology/approach – The authors validate their model using 420 survey responses from customers in a service retail setting. Nine research hypotheses were tested using structural equation modeling. Alternate models are estimated, and the results provide support for the theory-based trustworthiness mediation model. Findings – Trustworthy behaviors first build trustworthiness, which then translates into customer trust and ultimately has a positive impact on both behavioral and attitudinal loyalty. Research limitations/implications – The research highlights the importance for retailers to signal their trustworthiness to build customer trust and loyalty. Researchers should measure trustworthiness perceptions when examining customer relationships and managers should plan strategically to develop both trust and trustworthiness with their customers. Originality/value – This study is one of the first to investigate the mediating effect of trustworthiness on customer loyalty in service settings. While past research has investigated dimensions of trustworthy behaviors, none has included a measure of trustworthiness perceptions and consumer trust in the same theoretical model. The results of the research provide important insights for both researchers and managers.

scholarly journals The Implementation of Customer Relationship Management (CRM) Supported by SMS Gateway Technology

2019 ◽  
Vol 16 (1) ◽  
pp. 45
Author(s):  
Komang Redy Winatha
Keyword(s):  
Customer Relationship Management ◽  
Service Management ◽  
Environmental Changes ◽  
Relationship Management ◽  
Customer Relationships ◽  
Customer Relationship ◽  
Web Based ◽  
Customer Data ◽  
Gateway Technology ◽  
Web Based System

Responding to the higher restaurant industry competition, the Mailaku Roemah Nongkrong restaurant was not too flexible in facing an environmental changes. It was still using manual technology while there was an advancing technological developments. It was still applying the internal resources for business development. One way to overcome this problem is by utilizing technology and the concept of customer relationship management (CRM). CRM is a marketing strategy to create and maintain customer relationships and reduce the possibility of customers moving to other competitors. This study presented the development and implementation of CRM in a web-based system that was supported by sms gateway technology. The research methodology that will be used in this study consists of some steps, such as library study, observation, interviews, and system development which was divided into analysis, design, coding, and testing. The result was a web-based system was able to manage customer data, product promotion, and customer service management to create good relationships with customers. This system can be as an alternative for restaurants and customers in establishing practical business communication.

Using Social Media to Influence CRM and Loyalty

2015 ◽  
pp. 244-267
Author(s):  
Rozita Shahbaz Keshvari
Keyword(s):  
Social Media ◽  
Customer Loyalty ◽  
Relationship Management ◽  
Restaurant Industry ◽  
Customer Relationships ◽  
Customer Relationship ◽  
Media Usage ◽  
The Social ◽  
Customer Perspective ◽  
The Relationship

This chapter explores the influence of social media in Customer Relationship Management that leads to Customer loyalty. The social media in restaurant is recognized as an essential component of the customer satisfaction and therefore it is a cornerstone of the success of CRM and customer loyalty through social media nowadays. The purpose of this chapter is to investigate how Restaurant industry can harness the power of social media by utilizing CRM that leads to Customer loyalty. The problem is approached applying both the restaurants perspective and the customer perspective. The recent explosion in social media usage, combined with the transformation of the consumer into a “consume' activist”, has permanently changed the relationship between a restaurant and its customers. There were two interviews conducted for 384 restaurants collected and analyzed for the research. The results proved that Social media can be an excellent channel for building long-lasting customer relationships in restaurants.

Customer Behavior Prediction using K-Means Clustering Algorithm

2016 ◽  
pp. 256-267 ◽  
Author(s):  
Juhi Singh ◽  
Mandeep Mittal ◽  
Sarla Pareek
Keyword(s):  
Association Rules ◽  
Clustering Algorithm ◽  
A Priori ◽  
Clustering Algorithms ◽  
Customer Behavior ◽  
Purchase Behavior ◽  
Behavior Prediction ◽  
Customer Data ◽  
Customers Segmentation ◽  
Insight Into

Due to the increased availability of individual customer data, it is possible to predict customer buying pattern. Customers can be segmented using clustering algorithms based on various parameters such as Frequency, Recency and Monetary values (RFM). The data can further be analyzed to infer rules among two or more purchases of the customer. In this chapter we will present a clustering algorithm, enhanced k- means algorithm, which is based on k- means algorithm to divide customers into various segments. After segmentation, each segment is mined with the help of a priori algorithm to infer rules so that the customer's purchase behavior can be predicted. From large number of association rules with sufficient coverage, the customer's purchasing pattern can be predicted. Experiment on real database is implemented to evaluate the performance on effectiveness and utility of the approach. The results show that the proposed approach can gain a well insight into customers' segmentation and thus their behavior can be predicted.

Customer Relationship Management and Knowledge Discovery in Database

2010 ◽  
pp. 902-907
Author(s):  
Jounghae Bang ◽  
Nikhilesh Dholakiam ◽  
Lutz Hamel ◽  
Seung-Kyoon Shin
Keyword(s):  
Knowledge Discovery ◽  
Relationship Marketing ◽  
Customer Relationship Management ◽  
Relationship Management ◽  
Customer Relationships ◽  
Customer Relationship ◽  
Knowledge Discovery In Databases ◽  
Data Warehouses ◽  
Customer Data ◽  
Purchase Patterns

Customer relationships are increasingly central to business success (Kotler, 1997; Reichheld & Sasser, 1990). Acquiring new customers is five to seven times costlier than retaining existing customers (Kotler, 1997). Simply by reducing customer defections by 5%, a company can improve profits by 25% to 85% (Reichheld & Sasser, 1990). Relationship marketing—getting to know customers intimately by understanding their preferences—has emerged as a key business strategy for customer retention (Dyche, 2002). Internet and related technologies offer amazing possibilities for creating and sustaining ideal customer relationships (Goodhue, Wixom, & Watson, 2002; Ives, 1990; Moorman, Zaltman, & Deshpande, 1992). Internet is not only an important and convenient new channel for promotion, transactions, and business process coordination; it is also a source of customer data (Shaw, Subramaniam, Tan, & Welge, 2001). Huge customer data warehouses are being created using advanced database technologies (Fayyad, Piatetsky- Shapiro, & Smyth, 1996). Customer data warehouses by themselves offer no competitive advantages: insightful customer knowledge must be extracted from such data (Kim, Kim, & Lee, 2002). Valuable marketing insights about customer characteristics and their purchase patterns, however, are often hidden and untapped (Shaw et al., 2001). Data mining and knowledge discovery in databases (KDD) facilitate extraction of valuable knowledge from rapidly growing volumes of data (Mackinnon, 1999; Fayyad et al., 1996). This article provides a brief review of customer relationship issues. The article focuses on: (1) customer relationship management (CRM) technologies, (2) KDD techniques, and (3) Key CRM-KDD linkages in terms of relationship marketing. The article concludes with the observations about the state-of-the-art and future directions.

Gaining Insight into Cognitive Structure Using GALILEO Method

2010 ◽  
Vol 8 (1) ◽  
pp. 26-40 ◽  
Author(s):  
Junghoon Moon ◽  
Cheul Rhee ◽  
Hyunjeong Kang ◽  
G. Lawrence Sanders
Keyword(s):  
Customer Loyalty ◽  
Cognitive Structure ◽  
Multidimensional Systems ◽  
Cognitive Domain ◽  
Dimensional Scaling ◽  
Key Dimensions ◽  
Lock In ◽  
Insight Into ◽  
Multi Dimensional Scaling ◽  
Gaining Insight

In this article we introduce a multidimensional systems evaluation technique for tapping into the group cognitive structure. The objective is to illustrate how GALILEO assists in mapping the multidimensional cognitive domain of user evaluations in order to subsequently identify strategies to build customer loyalty and lock-in with e-commerce websites. A popular approach for understanding the structure of relationships between constructs is Multi-Dimensional Scaling (MDS). GALILEO is a very powerful multidimensional scaling technique developed by researchers in the area of communications and cognitive science but has not been applied to systems evaluation. The main goal of this study is to demonstrate the GALILEO method as a tool for evaluating emerging and existing technology and service innovations. The power of the GALILEO approach is illustrated by examining key dimensions of two leading e-commerce websites – Amazon.com and BN.com (Barnes & Noble).

Cochlear Implant Nonuse: Insight from Deaf Adults

2020 ◽  
Vol 25 (3) ◽  
pp. 270-282
Author(s):  
Maryam Salehomoum
Keyword(s):  
Identity Development ◽  
Cochlear Implant ◽  
Accurate Information ◽  
Term Outcome ◽  
Perceptual Development ◽  
Long Term Outcome ◽  
Deaf Identity ◽  
Deaf Adults ◽  
Insight Into

Abstract Research examining the outcome of pediatric cochlear implantation consists of certain limitations, including the use of assessments that are often restricted to auditory-spoken skills, biased recruitment practices, and lack of consideration for identity development. To better understand the long-term outcome of implantation, it is vital to seek out individuals who decide to stop using their device and elicit feedback related to their decision. Thus, 11 adults, who were past cochlear implant (CI) users, were interviewed to gain insight into factors that had led to their decision regarding cochlear implant nonuse. Results indicated several variables to have played a role, but the most prominent factors were limitations in postimplant auditory perceptual development and development of a d/Deaf identity. Although cochlear implant practices and technology have improved over the past few decades, we need to recognize the continued variability in outcome to ensure the provision of the most accurate information and appropriate services.

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