Crm System

Theoretical Framework

CRM

Customer relationship management (CRM) is a multifaceted process, mediated by a set of information technologies, that focuses on creating two-way exchanges with customers so that firms have an intimate knowledge of their needs, wants, and buying patterns. In this way, CRM helps companies understand, as well as anticipate, the needs of current and potential customers. (Bateman, T., & Snell, S, 2007, cited in Wikipedia: CRM).

According to Turban, E., Leidner, D., McLean, E. & Wetherbe, J. (2006), CRM is basically a simple idea: Treat different customers differently because their needs differ and their value to the company may be different. (p. 318).

Knowledge Management

According to Turban, E., Leidner, D., McLean, E. & Wetherbe, J. (2006, p. 367-368):

Knowledge management is a process that helps organizations identity, select, organize, disseminate, and transfer important information and expertise that are part of the organization’s memory and that typically reside within the organization in an unstructured manner. This structuring of knowledge enables effective and efficient problem solving, dynamic learning, strategic planning and decision making, Knowledge management initiatives focus on identifying knowledge, explicating it in such a way that it can be shared in a formal manner, and leveraging its value through reuse.

Data Warehouse

Data warehouse is a repository of subject-oriented historical data that are organized to be accessible in a form readily acceptable for analytical processing activities such as data mining, decision support, querying and other applications. The major benefits are (1) the ability to reach data quickly since they are located in one place, and (2) the ability to reach data easily and frequently by end users with web browsers. (Turban, E., Leidner, D., McLean, E. & Wetherbe, J., 2006, p. 418):

OLAP

Online analytical processing (OLAP) is a set of tools that can analyze data to reflect actual business needs (Codd et al., 1993, cited in Turban, E., Leidner, D., McLean, E. & Wetherbe, J., 2006, p. 427, 2006)