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CUSTOMER RELATIONSHIP MANAGEMENT:analysis - Essay Example

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(Executive Summary: The impact of a technology on information use has become an important subject for discussion. In this paper an effort is made to analyze the various complexities of use of information in implementation of Customer relationship Management…
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CUSTOMER RELATIONSHIP MANAGEMENT:analysis
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Download file to see previous pages Information Systems (IS) have been an integral part of every organization's processes for gathering, storing, processing and analyzing information. The scope of IS has dramatically revolutionized by the introduction of Information technology. However Information Management is more than just a technology; it is about business processes and practices that use information for achieving its business goals. Information management comprises people, process, technology and content.
The objective of this paper is to study the impact of a technology on information use and the potential consequences of the application for business strategy. The technology chosen for this study is 'Customer Relationship Management'. The use of CRM is an important example of utilization of information technology to implement relationship-marketing strategies, thereby business strategies.
Adrian Payne (2006, p5) defines Customer Relationship Management (CRM) as "a business approach that seeks to create, develop and enhance relationships with carefully targeted customers in order to improve customer value and corporate profitability and thereby maximize shareholder value".
Customer Relationship Management has become a topic of major importance during the last decade. CRM is being widely talked about from latter parts of 1990s. However the term 'Customer Relationship' is being used since long. ...
CRM is being widely talked about from latter parts of 1990s. However the term 'Customer Relationship' is being used since long. The importance of CRM has increased manifold due to one main factor; revolution in information technology. The advent of faster computers, the decrease in size in data storage facilities, the advent of faster communications like telephony and Internet use etc. have revolutionized data collection, data handling, data storage and data analysis activities.
We have chosen 'Customer Relations Management' as our technology to demonstrate the impact of technology on information use, as Information management process is the main process involved in implementation of CRM.
In the subsequent pages we will study CRM and its business relationship. We will look into the relationship of CRM with information use. We will also work on Business strategy, information strategy, information technology strategy and information management strategy of organizations. The issues we will look into are; the processes of strategy formulation, information responsibility, data information, data quality, information sharing and access in implementing CRM. We also will look into the barriers and promoters in implementation of CRM. Finally we will prioritize the key findings and formulate our recommendations.
CRM - Customer Relationship Management:
Though CRM is widely used by various sectors of business, it has been defined differently by different people. The importance of how CRM is defined by an organization can be gauged from the fact that it directly describes how CRM is accepted and practiced in the organization concerned. CRM is not a IT solution of creating, maintaining and enhancing customer ...Download file to see next pagesRead More
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