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Customer Relationship Management in the Financial Industry: Organizational Processes and Technology Innovation 2nd ed. 2013 [Kõva köide]

  • Formaat: Hardback, 181 pages, kõrgus x laius: 235x155 mm, kaal: 4203 g, XII, 181 p., 1 Hardback
  • Sari: Management for Professionals
  • Ilmumisaeg: 17-May-2013
  • Kirjastus: Springer-Verlag Berlin and Heidelberg GmbH & Co. K
  • ISBN-10: 3642355536
  • ISBN-13: 9783642355530
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  • Formaat: Hardback, 181 pages, kõrgus x laius: 235x155 mm, kaal: 4203 g, XII, 181 p., 1 Hardback
  • Sari: Management for Professionals
  • Ilmumisaeg: 17-May-2013
  • Kirjastus: Springer-Verlag Berlin and Heidelberg GmbH & Co. K
  • ISBN-10: 3642355536
  • ISBN-13: 9783642355530

An integrated view of IT and business processes through extended IT governance allows financial institutions to innovate operations which improve business and organizational performance. However, financial institutions still face challenges with CRM systems in delivering expected results due to lack of complete business integration. Increased exchange of knowledge between customers and the amount of such data available is steadily becoming a challenge for companies, especially in extending internal systems to global information systems with the purpose to collect and update data on a global scale.

In this book, Prof. Rajola analyses different aspects of CRM systems taking both an organizational and a technological perspective. He adopts a theoretical framework to unpack issues associated with the need for companies to integrate operations and business processes. The emphasis is then drawn to development of effective CRM (and CRM 2.0) initiatives by making use of illustrative case studies of successful CRM systems implementation in the financial industry. The framework adopted in this book can be used by both scholars and managers to evaluate the interdependencies between operations, business processes, and CRM systems.

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This book analyses aspects of CRM systems from both organizational and technological perspectives. The emphasis is on development of effective CRM (and CRM 2.0) initiatives using case studies of successful CRM systems implementations in the financial industry.
1 Introduction
1(8)
1.1 Identification and Classification of Business Objectives
3(1)
1.2 Information Quality
3(1)
1.3 Development Methodologies and Design Based on Users and on the Needs of the Different Business Areas
4(1)
1.4 Identification of Different User Profiles
4(1)
1.5 The Selection Process of Alternative Packages
4(1)
1.6 Ways of Providing Information
5(2)
1.7 The Technological Architecture
7(1)
1.8 Organizational Change
7(2)
2 IT is Business: Some Emerging Reflections and IT Governance of CRM Projects
9(18)
2.1 Introduction
9(1)
2.2 The Role of IT in the Financial System
9(2)
2.3 Technology and Innovation
11(4)
2.3.1 The Governance of Innovation Processes
13(2)
2.4 The Priorities of CIO in the Financial System
15(1)
2.5 Extended IT Governance: Performance and Operational Models
16(11)
2.5.1 Business, IT and Strategy in Banks
16(2)
2.5.2 IT Business Value
18(1)
2.5.3 The Role of IT Governance and the Cultural Gap
19(1)
2.5.4 Towards the Concept of Extended Governance
20(4)
References
24(3)
3 The Theoretical Framework of CRM
27(8)
3.1 Environment and Technical Core
27(2)
3.2 From Decision Support Systems to CRM: Main Steps in Evolution
29(3)
3.3 Research Objectives and Purpose of Present Work
32(3)
References
33(2)
4 CRM Project Organization in the Financial Industry
35(28)
4.1 Basic Motivations for CRM
35(2)
4.2 CRM Drivers and Key Factors
37(2)
4.3 Organizational and Technological Evolution of Customer Interaction Points
39(1)
4.4 CRM in the Banking Industry
40(1)
4.5 Definition and Purposes of CRM
41(2)
4.6 The CRM Ecosystem
43(2)
4.6.1 The Analytical Component
43(1)
4.6.2 The Operational Component
44(1)
4.6.3 The Collaborative Component
45(1)
4.7 The Organizational Perspective of CRM
45(1)
4.8 Data Analysis Techniques
46(3)
4.8.1 Standard Query
47(1)
4.8.2 Multidimensional Analysis
47(2)
4.8.3 Statistical Analysis
49(1)
4.9 The Main Requirements for a CRM Solution
49(3)
4.9.1 Main Functional Requirements
50(1)
4.9.2 Main Technological Requirements
50(1)
4.9.3 Main Features and Requirements of a CRM System
50(2)
4.10 Cases on CRM in the Italian Banking Industry
52(7)
4.10.1 The Most Interesting Cases
53(6)
4.11 Conclusions
59(4)
References
59(4)
5 CRM 2.0 in the Financial Industry
63(20)
5.1 Introduction
63(1)
5.2 A New Perspective on Bank-Customer Relationships: Building Loyalty
63(8)
5.2.1 Information Systems Supporting Relationships with Customers
69(2)
5.3 The Evolution of Demand: The Customer 2.0
71(2)
5.4 Evolution of Systems Supporting CRM Processes and Loyalty
73(4)
5.5 CRM 2.0 Technology Outlook Model
77(4)
5.5.1 Method of Analysis
77(3)
5.5.2 CRM 2.0 Technology Outlook Map
80(1)
5.6 Conclusions
81(2)
References
82(1)
6 The Organization of Data Warehouse Activities
83(16)
6.1 Introduction
83(1)
6.2 The Data Warehouse
84(2)
6.3 A Definition of Data Warehouse
86(4)
6.3.1 Components and Architecture of a DWH
88(2)
6.4 Main Issues of the Implementation Process of a Data Warehouse
90(1)
6.5 Organization of Warehousing Initiatives for Marketing Activities in the Banking Industry
91(8)
6.5.1 Case Studies
94(3)
References
97(2)
7 Organization of Knowledge Discovery and Customer Insight Activities
99(10)
7.1 Knowledge Discovery Process
99(2)
7.2 Data Mining
101(8)
References
107(2)
8 Data Mining Techniques
109(18)
8.1 Introduction
109(1)
8.2 The Most Prominent Data Mining Systems
110(1)
8.3 Visualization
110(1)
8.4 Neural Networks
111(5)
8.4.1 Neural Networks: A Definition
113(3)
8.5 Genetic Algorithms
116(3)
8.5.1 A Definition of Genetic Algorithms
117(1)
8.5.2 Applications in Business and Financial Industry
118(1)
8.6 Fuzzy Logic
119(1)
8.7 Rule Induction and Decision Trees
120(2)
8.7.1 Rule Induction
120(1)
8.7.2 Decision Trees
121(1)
8.8 Cluster Analysis
122(5)
References
124(3)
9 The Evolution of Customer Relationships and Customer Value
127(20)
9.1 From a "Transactional" to a "Relational" Approach
127(1)
9.2 The Company Culture
128(1)
9.3 The Organizational Structure
129(1)
9.4 The Main Processes of Organizations
130(1)
9.5 Who Is the Customer?
131(3)
9.5.1 The Relationship with Internal Customers
132(2)
9.5.2 The Relationship with Outer Customers
134(1)
9.6 The Customer's Life Cycle
134(2)
9.7 The Concepts of Customer Satisfaction and Loyalty
136(4)
9.7.1 Definition and Role of Customer Satisfaction
136(2)
9.7.2 Organizing the Concept of Loyalty
138(2)
9.8 Understanding the Role of the Customer
140(3)
9.9 Satisfaction, Loyalty, and Defection
143(4)
References
144(3)
10 Main Benefits and Organizational Impacts of CRM Within the Bank
147(6)
10.1 A New Business Organization
147(1)
10.2 CRM, IT, and Organizational Approaches
148(1)
10.3 Change Management and CRM Initiatives
149(4)
References
151(2)
11 Data Mining Systems Supporting the Marketing Function: The Experience of Banca Monte dei Paschi di Siena
153(24)
11.1 Introduction
153(1)
11.2 Market Evolution
154(1)
11.2.1 Operators
154(1)
11.2.2 The Customer
155(1)
11.3 The Organization of Marketing Initiatives
155(1)
11.3.1 The Data
156(1)
11.4 The Bank
156(3)
11.4.1 New Projects
157(2)
11.5 The Marketmine Project
159(14)
11.5.1 Analysis Methods
160(1)
11.5.2 Clear Definition and Comprehension of the Problem
160(2)
11.5.3 Acquisition, Selection, Cleaning and Comprehension of the Data
162(3)
11.5.4 Selection of the Sample for the Use of Data Mining Systems
165(1)
11.5.5 Construction of the Customer Profile
166(2)
11.5.6 Exploration and Tuning of Variables
168(1)
11.5.7 Construction and Application of the Analysis Model
168(4)
11.5.8 The Analysis Model
172(1)
11.6 Marketmine: Project Results
173(4)
References
176(1)
12 Conclusion
177
12.1 The Meaning of CRM
177(1)
12.2 The Adaptation of Data Warehousing in a CRM Project
178(1)
12.3 Using Data Mining in CRM Projects
179(1)
12.4 Theoretical Foundations of CRM
179(2)
12.5 Critical Success Factors
181
Federico Rajola holds a PhD in Information Systems and Management. He is a Professor at the Management Faculty of the Università Cattolica of Milan where he teaches Project Management and Organization Studies. He is also the Rector Delegate on Information Technology and Innovation and the scientific director of CeTIF, the research Centre on Technology, Innovation, and Finance of the Catholic University. He has chaired several International academic conferences and workshops, and has authored several articles and books on Information Systems, Business Intelligence, CRM, and Innovation in organizations. Several Innovative European research projects under the program Esprit and IST have been coordinated and managed by Prof. Rajola.