__________ CRM systems are used to create statistical models of customer behaviour, to determine the value of customer relationships over time, and to create forecasts about acquiring, retaining, and losing customers.
A)Analytical
B)Collaborative
C)Operational
D)Statistical

Question

Quizplus · Accepted Answer

Analytical CRM systems are specifically designed to analyze customer data and create statistical models that help businesses make predictions and optimize their customer relationship management strategies. They are used to track customer interactions across multiple channels, identify patterns and trends, and generate actionable insights that can improve customer acquisition, retention, and loyalty. Collaborative and operational CRM systems, on the other hand, are focused on facilitating communication and coordination among different departments, improving customer service, and streamlining business processes. Statistical CRM systems are another term for analytical CRM systems, but less commonly used.

__________ CRM Systems Are Used to Create Statistical Models of Customer