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61 Cards in this Set
- Front
- Back
a standard format for exchanging business data. Used extensively as a means to improve purchasing efficiencies between and organization and its suppliers
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Electronic Data Interchange (EDI)
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a program which directs customers to use touch-tone phones or keywords to navigate or provide information at customer service all centers. Inteded to connect customers with a representative or with a response system that meets their specific needs
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Interactive voice Response (IVR)
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a markup language that defines the format and the content of data, unlike HTML which only specifies format. It specifies what an item of data is, not just how it should be formatted. It can be used to both store and exchange data
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extensible markup language (XML)
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a display of information from a variety of sources that has been pieced together to aid in decision making
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digital dashboard
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: “Business process of managing the complex interaction of products, materials, equipment, labor, and cash as they flow through the supply chain and fulfill customer demand.”
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supply chain management
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a CRM application with cross selling/ up-selling, campaign management
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marketing automation
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a CRM applciation with contact management, product configuration
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sales force automation
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a CRM applcation with technician dispatch, defect tracking
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field service
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a CRM application that has call management, integration with marketing, sales force and field service management
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contact centers
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manages and distributes software applications to users over a WAN (such as the internet). Software runs on the ASP;s servers, not the customers .
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Application Service Provider (ASP)
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telecommunications network technology that uses existing twister-pair cables (the telephone wiring in most homes) for high-speed connections, typically to the internet. "last mile" technology
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Digital Subscriber Line (DSL)
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what type of management system allow all "customer facing systems" to have the same view of each customer ?
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Customer Relationship Management Systems
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qWhat are the goals of the Customer Relationship Management systems? (4)
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1. manage multiple channels of interaction with customer
2. provide an integrate picture of each customer 3. enable analysis or customer- related information 4. gain insight into the behavior of customers and the value of those customers |
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1/3 CRM components that support traditional transaction processing for customer facing operations
ex. customer self-service order tracking |
operational component
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1/3 CRM components that is directed toward improving customer interactions
ex. live-chat |
collaborative components
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1/3 CRM components where technologies and processes used to analyze customer data
ex. customer segmentation, customer profiling |
analytical component
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what are the 3 major roadblocks to installing SCM systems
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1. gaining trust from your suppliers and partners
2. internal resistance to change 3. many mistakes at first |
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what are the 5 major supply chain activities
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1. plan
2. source 3. make (manufacture) 4. deliver (logistics) 5. return |
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what are the 3 main links in a supply chain
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1. materials flow from suppliers and their "upstream" suppliers at all levels
2. transformation of materials into semi-finished and finished products through the organizations own production process 3. Distribution of products to customers and their "downstream" customers at all levels |
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What are the 4 major supply chain decisions?
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1. production
2. inventory 3. location 4. transportation |
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What are the benefits to Supply chain management? (5)
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1. faster responses to supply and demand changes
2. increased customer satisfaction 3. regulatory compliance 4. improved cash flow (reduced inventory levels and increases stock turns) 5. higher margins (better order, product, and executing tracking) |
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combination of data warehousing and data mining. A broad category of applications and technologies for gathering, storing, analyzing, and providing access to data to help enterprise users make better business decisions.
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business intelligence
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Why do we need business intelligence?
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helps leverage data resources for better decision making
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copy of transactional data formatted so that its useful for query and analysis (decision support)
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data warehousing
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why do we need data warehousing?
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for decision support and to create data
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process of sorting through large amounts of data and picking out relevant information. helps make managerial decision based on the patterns and forecasts generated from the data collected
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data mining
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type of data mining that identifies the degree to which variables are relate...nature and frequency of these relationships in information
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association detection
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type of data mining that identifies "affinities" among customers' products/ service choices
- if you buy a certain group of items, you are more/less likely to buy another's items -use data sources such as check-out scanner data |
market basket analysis
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type of data mining that divides an information set into mutually exclusive groups such that the groups are as close together as possible and different groups are as far away as possible
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cluster analysis
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what are some requirements for good decisions?
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good information and good decision making process, skills, and tools
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what is the importance of good decision making skills?
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moving up the ladder requires decision making ability. decisions get more difficult and decisions have a greater impact
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what are the decision making process steps?
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1. definition
2. requirements 3. goals 4. alternatives 5. evaluation 6. decision making tools 7. apply 8. check |
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a decision making technique that lists the good and bad about each alternative. pick the alternative with the strongest pros and weakest cons. good for simple decision with few alternatives and few discriminating criteria
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pros/ cons analysis
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a decision making technique that determine the probably benefits of each alternative. choose the alternative with the lowest cost/ benefit ratio.
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cost/ benefit analysis
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a decision making technique that compares each alternative against all other alternatives. the alternative that wins the most comparisons is chosen
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paired comparison
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a decision making technique that analyzes all possible future events by comparing future alternative outcomes. allows more complete consideration of possible outcomes and implications
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scenario analysis
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what are the questions you ask when evaluating information? (5)
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1. who provided the info
2. is the source an expert 3. is the viewpoint balanced 4. is the info current 5. verify claims |
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what are the 6 dimensions of quality
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relevance
accuracy timeliness completeness constistency format |
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coming together of various technologies
Technologies that have converged to enable e-business: • Digital content • Network access devices • PC speed and storage • Graphical user interface • Network transmission • Data compression |
convergence
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The value of the technology increases with the addition of each new person using it. When a technology hits “this point” it may pull other technologies along with it.
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critical mass
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the ability of systems running in different operating environments to communicate and work together. This is a critical issue in e-business.
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interoperability
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the largest category of e-business that approaches exchanges and direct sales
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business to business
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category of e-business that includes electronic stores, clicks and bricks, online auctions, electronic mall, promotion and customer service sites, content and advertising sites, subscription models, clubs, and communities
ex. target |
business to consumer
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category of e-business that includes auctions and classifieds, meetings, buddy lists, discussion groups
ex. e-bay |
consumer to consumer
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category of e-business that includes info regarding services, permites and licenses, portals and welcome mat to visitors, voting and governance
ex. st. louis city |
government to constituent
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how a company generates revenue: architecture of the business- flow of goods/services, description of benefits for entities involved, sources of revenue. Without one, there’s little chance of survival.
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business model
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these are all what kinds of e-business models?
catalogue aggregators auction model market exchange model barter model |
business to business
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cutting out some of the steps in the supply chain
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disintermediation
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what are 4 other organizational impacts of e-business?
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channel conflict
new markets new products new competition |
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what did the changing market structure do?
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created day trading
travel industry created MP3 enabled music players |
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• According to one of our readings, one goal of CRM systems is to cross sell products more effectively.
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true
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• Sourcing is one of the five basic components of SCM.
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true
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Querying and reporting are NOT considered part of business intelligence.
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false
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Poor data quality is a potential problem with implementing BI.
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true
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Goals are conditions that any acceptable solution must meet.
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false
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One advantage of a disciplined decision making approach is that it helps communicate the rationale for the decision made.
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true
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A lack of objectivity always means that information in that source is unrealistic
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false
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According to one of our readings for today, it is possible to have too much information.
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true
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Supply chain activities include all but which of the following:
o A) sourcing o B) customer self-service o C) logistics o D) processing |
customer self service B
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Which of the following is NOT a goal of customer relationship management systems?
o A) manage multiple channels of customer interaction o B) provide an integrated view of each customer o C) provide smooth integration of all logistics information o D) enable analysis of customer-related information |
C
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•Field service technician dispatch is an example of a CRM application.
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true
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