By Markus WÃ¼bben
The ever-increasing volume of individual-level consumer information generated through loyalty courses opens new views for patron dating management(CRM). but, fresh research have proven that an enormous fraction of CRM tasks fail to carry the great on the base line. one of many major purposes for this challenge is that those info require complicated analytical processing to completely leverage their strength ("analytical CRM"). study and perform are nonetheless in its early phases with appreciate to analytical CRM.
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Accelerated cash ﬂows) are preferred because risk and time adjustments reduce the value of later cash ﬂows. Likewise, increase of cash ﬂows through higher revenues and/or lower costs drives the NPV. 2. Reduction of risk of cash ﬂows (cost of capital) Less vulnerable and volatile cash ﬂows result in a lower cost of capital. 18 2 Fundamentals of Customer Relationship Management 3. Residual value of the business The value the investment generates after the forecast period. According to the net present value rule (Brealey and Myers 2006, p.
Consider a customer in the context of ﬁnancial services. The customer may start a relationship with a ﬁnancial provider by opening a checking account, some years later she may have demand for credit cards. Then she needs loans to buy or build a house because she started a family. Soon she needs insurances for her children while, at the same time, she needs to take care of her pension. Finally, the relationship ends because she departs. This development can be conceptualized in a customer life cycle (Jain and Singh 2002; Wheaton 2000).
Principally, the idea behind life cycles is that objects23 have ﬁnite lifetimes. During their lifetime, objects traverse speciﬁc phases where each phase is characterized by speciﬁc properties of the object in relation to its environment. A famous application of the life cycle concept is the product life cycle (for example, Day 23 Life cycles are not limited to customers. 3 Customer Life Cycle 27 1981). The product life cycle assumes that during their lifetime products traverse multiple phases that are characterized by their chronicle sequence and economic metrics (for example, sales).