Question

As future business executives, you will be in charge of evaluating and perhaps managing the implementation of CRM projects. What will be your likely challenges (as discussed in class)? How do you calculate the ROI of a CRM project? What are the major issues to be considered in this calculation? And finally, briefly describe the major activities in data analytics projects.

Answer 1

Ans: The challenges in implementation of CRM projects can be given as:

a). The primary challenge is to collect the information of customers and storing it.

b). After customer information is collected, it is a challege to analyse the data and deduct the consumer behaviour.

c). The marketing campaign based on analysis of consumer behaviour is also a challenge.

d). Integration of sales and marketing process and automation is also a challenging task.

The ROI of a CRM project can be measured as below:

a). The sales revenue growth in comparison to amount invetsed for CRM project.

b). The pattern of changes in consumer's footfall and conversion can be a criteria.

c). The co-ordination and efficiency of internal systems to produce result.

d). The silos of departments should be broken and brought to same level.

The major issue could be finiding the exact impact in revenue growth because of CRM project implementation.

The major activities in data nalytics peoject could be given as:-

a). Scientific model to analyse the data.

b). Efficiecy and technology to process big data.

c). Deduction of logical conclusion based on this data.

d). Results should be implemented to increase the operational efficiency.