Topic 10

Which of the following best describes the primary goal of using customer-related data?

• To increase the volume of customer interactions.

• To automate all customer service processes.

• To understand customers better and improve business outcomes.

• To reduce the cost of data storage.

Why is it crucial for businesses to effectively manage and analyze customer data in today's environment?

• Because it guarantees a larger market share.

• Because it simplifies the IT infrastructure.

• Because data collection is legally mandated for all businesses.

• Because customers expect personalized experiences and relevant offers.

Which of the following is a primary source of CRM data?

• Competitor sales figures.

• Transaction history

• Social media trends

• Employee performance reviews.

What is a key benefit of integrating customer-related data into CRM systems?

• Guaranteed customer loyalty

• To automate email marketing campaigns.

• To ensure all customer data is stored in a single database.

• To provide insights that inform decisions about customer segmentation and targeting.

Which analytics approach helps identify the most profitable customer segments?

• Sentiment analysis

• Cohort analysis

• Break-even analysis

• Cost-benefit analysis

Which of the following is an example of how analytics can inform CRM tactics?

• Determining the best color scheme for the company website.

• Calculating the monthly electricity bill.

• Identifying the optimal time of day to send promotional emails to specific customer segments.

• Deciding on the layout of the office space.

What metric is critical for evaluating CRM campaign effectiveness?

• Customer Lifetime Value (CLV)

• Website bounce rate

• Employee satisfaction

• Inventory turnover

How does predictive analytics support CRM strategy?

• To report on past customer interactions.

• To forecast future customer behavior, such as churn risk or purchase likelihood.

• To organize customer data alphabetically.

• To create static customer profiles.

Which stage of the customer lifecycle or customer journey focuses on reducing churn?

• Acquisition

• Retention

• Development

• Advocacy

What is the role of analytics in the "acquisition" phase?

• Identifying high-value prospects

• Resolving customer complaints

• Measuring referral rates

• Analyzing product returns