About This Chapter
Business Analytics - Chapter Summary
The focus of this chapter is to provide you with a comprehensive overview of the ways businesses stay connected with their customers and measure their success. By the end of this chapter you will have explored:
- How to use data for business decisions
- Customer Relationship Management (CRM)
- Purpose and goals of using CRM
- Definition of a customer base
- Customer value
- How to warehouse and mine data
- A comparison of structured and unstructured data
Each lesson contains a video along with its transcript to provide you with two methods for learning. The videos have been developed to effectively illustrate the material, and the transcripts are also available for text-based learning. You will find a timeline below each video you can use to review a particular portion of the lesson. At the end of each lesson, take the self-assessment quiz to test your knowledge of each topic.
1. Using Big Data Analytics to Drive Business Decisions
This lesson will define the meaning of big data analytics and will also discuss how this information is used to drive business decisions by allowing organizations to remain ahead of the competition.
2. Customer Relationship Management: Using CRM to Focus on Customers
Customer relationship management (CRM) is an enterprise business system that organizations utilize to acquire, enhance, and retain relationships with customers. This lesson explores how CRM helps organizations become more customer-focused and profitable by combining functional processes with business operations.
3. Goals & Objectives of Companies Using CRM
Companies that use customer relationship management (CRM) have a different point of view when it comes to their customers. They are customer focused and driven. This lesson will take a look at the goals and objectives of companies that use CRM.
4. Customer Base: Definition & Overview
A customer base is absolutely essential for business success. In this lesson, you'll learn about customer bases and important related concepts. A short quiz follows the lesson.
5. What is Customer Value? - Marketing & Definition
In this lesson, we will learn the meaning of customer value and discover how consumers use customer value to make buying decisions. We'll also learn why companies must establish and maintain a high customer value for their products and services.
6. Data Warehousing and Data Mining: Information for Business Intelligence
Collections of databases that work together are called data warehouses. This makes it possible to integrate data from multiple databases. Data mining is used to help individuals and organizations make better decisions.
7. Structured vs. Unstructured Data: Definition & Examples
In this lesson you will learn what structured and unstructured data are and how they are different. You will also see how both are used and see some examples of each type of data.
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Other chapters within the High School Marketing for Teachers: Help & Review course
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- Business Law & Regulation
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- The Economy and the US Government
- Entrepreneurship & Types of Businesses
- Marketing Basics
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- Selling & Customer Service
- Market Research and Segmentation
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