Online CRM

Abstract

The fundamental aim of Customer Relationship Management (CRM) is organizing the relations with customers so as the increase their satisfaction and thus loyalty to the company. It basically has two aspects; operational CRM and analytical CRM. For an effective use, analytical tools such as data mining should be utilized as far as possible and timely actions should be taken through the information systems. In most applications there is a gap between the time information becomes available and an action is taken. In this study, we discuss some ways of eliminating this gap. We discuss the concepts by giving examples from the banking industry.