Question 1

Preparing customer data for analysis (the analysis process) includes which of the following steps?

Accepted Answer

A)  classification, estimation, regression, prediction, clustering 
B)  identification, differentiation, interaction, customization 
C)  collecting, defining, analyzing, comparing 
D)  ranking, modeling, simulating, learning 
A)  classification, estimation, regression, prediction, clustering 
B)  identification, differentiation, interaction, customization 
C)  collecting, defining, analyzing, comparing 
D)  ranking, modeling, simulating, learning A

Question 2

The second stage in the evolution of CRM software is:

Accepted Answer

A)  SaaS CRM 
B)  CRM in the cloud 
C)  open-source CRM 
D)  enterprise CRM 
A)  SaaS CRM 
B)  CRM in the cloud 
C)  open-source CRM 
D)  enterprise CRM A

Question 3

According to the authors, the metaphor of "data mining" captures all of the following except:

Accepted Answer

A)  creating predictive and descriptive models to support decision making 
B)  exploring and analyzing large quantities of data to discover meaningful patterns 
C)  discovering real-time insights into the nature of individual customers 
D)  extracting and presenting new knowledge selected from databases for actionable decisions 
A)  creating predictive and descriptive models to support decision making 
B)  exploring and analyzing large quantities of data to discover meaningful patterns 
C)  discovering real-time insights into the nature of individual customers 
D)  extracting and presenting new knowledge selected from databases for actionable decisions C

Question 4

According to the case study presented in Chapter 12, Verizon Wireless discovered which of the following benefits from customer analytics?

Accepted Answer

A)  short-term revenue increase 
B)  reduced marketing costs 
C)  reduced customer service costs 
D)  easier and faster transactions 
A)  short-term revenue increase 
B)  reduced marketing costs 
C)  reduced customer service costs 
D)  easier and faster transactions

Question 5

Explain how customer analytics is a business process and not just a technology.

Accepted Answer

Customer analytics is a business process

Question 6

The authors predict the next stage of customer analytics will involve:

Accepted Answer

A)  evolving from a technology to a business process 
B)  cloud-based computing 
C)  deepening the relationship with each customer 
D)  applying financial characteristics to data analysis 
A)  evolving from a technology to a business process 
B)  cloud-based computing 
C)  deepening the relationship with each customer 
D)  applying financial characteristics to data analysis

Question 7

The purpose of customer analytics is:

Accepted Answer

A)  develop a deeper relationship with the customer 
B)  assign a dollar value to customer data 
C)  reduce marketing expenses 
D)  increase customer service 
A)  develop a deeper relationship with the customer 
B)  assign a dollar value to customer data 
C)  reduce marketing expenses 
D)  increase customer service

Question 8

According to Jim Goodnight, why is it important that an enterprise have a holistic view of the customer? How does customer analytics enable this view?

Accepted Answer

According to Jim Goodnight, it is import

Question 9

In the interactive age, ___________ drives the central engine of competition.

Accepted Answer

A)  customer analytics 
B)  customer information 
C)  product optimization 
D)  mass customization 
A)  customer analytics 
B)  customer information 
C)  product optimization 
D)  mass customization

Question 10

What characteristic dictates most whether a company would benefit from customer analytics?

Accepted Answer

A)  whether the company has a Web site 
B)  whether the company generates large amounts of customer-specific information 
C)  whether a company is customer-centric 
D)  the number of employees a company has 
A)  whether the company has a Web site 
B)  whether the company generates large amounts of customer-specific information 
C)  whether a company is customer-centric 
D)  the number of employees a company has

Question 11

List and discuss five sales and marketing benefits of customer analytics. For each, explain how customer analytics enables these benefits.

Accepted Answer

1. Improved customer segmentation: Custo

Question 12

"Dirty" data can mean all of the following except:

Accepted Answer

A)  private 
B)  expired 
C)  irrelevant 
D)  nonsequential 
A)  private 
B)  expired 
C)  irrelevant 
D)  nonsequential

Question 13

Customer analytics provides what missing link for understanding customers?

Accepted Answer

A)  classification 
B)  analysis 
C)  interaction 
D)  prediction 
A)  classification 
B)  analysis 
C)  interaction 
D)  prediction

Question 14

Fully define both "data mining" and "customer analytics." How are they the same-and how are they different?

Accepted Answer

Data mining is the process of analyzing

Preparing customer data for analysis (the analysis process) includes which of the following steps?

The second stage in the evolution of CRM software is:

According to the authors, the metaphor of "data mining" captures all of the following except:

According to the case study presented in Chapter 12, Verizon Wireless discovered which of the following benefits from customer analytics?

Explain how customer analytics is a business process and not just a technology.

The authors predict the next stage of customer analytics will involve:

The purpose of customer analytics is:

According to Jim Goodnight, why is it important that an enterprise have a holistic view of the customer? How does customer analytics enable this view?

In the interactive age, ___________ drives the central engine of competition.

What characteristic dictates most whether a company would benefit from customer analytics?

List and discuss five sales and marketing benefits of customer analytics. For each, explain how customer analytics enables these benefits.

"Dirty" data can mean all of the following except:

Customer analytics provides what missing link for understanding customers?

Fully define both "data mining" and "customer analytics." How are they the same-and how are they different?

Evolution of Relationships With Customers and Strategic Customer Experiences

The Thinking Behind Customer Relationships That Leads to Good Experiences

Customer Relationships: Building Blocks of IDIC and Trust

Identifying Customers

Differentiating Customers by Value: Some Customers Are Worth More Than Others

Differentiating Customers by Their Needs

Interacting With Customers: Customer Collaboration Strategy

Customer Insight, Dialogue, and Social Media

Privacy and Customer Feedback

The Payoff of IDIC: Using Mass Customization to Build Learning Relationships

Optimizing Around the Customer: Measuring the Success of Customer-Based Initiatives and the Customer-Centric Organization

Organizing and Managing the Profitable Customer-Strategy Enterprise, Part 1

Organizing and Managing the Profitable Customer-Strategy Enterprise, Part 2

Future proofing the Customer-Centric Organization

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Exam 12: Using Customer Analytics to Build the Success of the Customer-Strategy Enterprise

Preparing customer data for analysis (the analysis process) includes which of the following steps?

The second stage in the evolution of CRM software is:

According to the authors, the metaphor of "data mining" captures all of the following except:

According to the case study presented in Chapter 12, Verizon Wireless discovered which of the following benefits from customer analytics?

Explain how customer analytics is a business process and not just a technology.

The authors predict the next stage of customer analytics will involve:

The purpose of customer analytics is:

According to Jim Goodnight, why is it important that an enterprise have a holistic view of the customer? How does customer analytics enable this view?

In the interactive age, ___________ drives the central engine of competition.

What characteristic dictates most whether a company would benefit from customer analytics?

List and discuss five sales and marketing benefits of customer analytics. For each, explain how customer analytics enables these benefits.

"Dirty" data can mean all of the following except:

Customer analytics provides what missing link for understanding customers?

Fully define both "data mining" and "customer analytics." How are they the same-and how are they different?

Evolution of Relationships With Customers and Strategic Customer Experiences

The Thinking Behind Customer Relationships That Leads to Good Experiences

Customer Relationships: Building Blocks of IDIC and Trust

Identifying Customers

Differentiating Customers by Value: Some Customers Are Worth More Than Others

Differentiating Customers by Their Needs

Interacting With Customers: Customer Collaboration Strategy

Customer Insight, Dialogue, and Social Media

Privacy and Customer Feedback

The Payoff of IDIC: Using Mass Customization to Build Learning Relationships

Optimizing Around the Customer: Measuring the Success of Customer-Based Initiatives and the Customer-Centric Organization

Organizing and Managing the Profitable Customer-Strategy Enterprise, Part 1

Organizing and Managing the Profitable Customer-Strategy Enterprise, Part 2

Future proofing the Customer-Centric Organization

Filters