Statistical Methods in Customer Relationship Management

2.6 Conclusion

The need for CRM models in the four areas is vital to being able to create well-defined, consistent, and successful CRM strategies. Building the right customer relationships that benefit the firm in the long term is not guesswork. Advances in modeling-based CRM and customer data processes are huge assets for the firm that uses them efficiently and rigorously. Our goal in this book is to provide an overview and in-depth analysis of the available models and metrics in each phase within the CRM process in order to provide a holistic view of the benefits that the model-based approach has on CRM practices. In the following chapters, we will discuss each of the four areas in the CRM processes and provide CRM models that will benefit the firm in maximizing profitability.