There Are Three Phases in the Evolution of CRM: (1)reporting,(2)analyzing,and

question 109

Multiple Choice

There are three phases in the evolution of CRM: (1) reporting,(2) analyzing,and (3) predicting.What do CRM predicting technologies help organizations accomplish?

• A)Make predictions regarding customer behavior such as which customers are at risk of leaving
• B)Segment their customers into categories such as best and worst customers
• C)Identify their customers across other applications
• D)All the above

Determine the size of payments for loans or savings with varying interest rates and compounding frequencies.

Apply the concept of present value in determining the amount of periodic payments or contributions.

Use financial formulas to calculate the amount of interest paid over the life of a loan.

Plan financial goals such as saving for education, purchasing a home, or preparing for retirement by calculating necessary contributions.

---

Definitions:

Direct Labor Payroll

The total cost of wages and benefits paid to employees who are directly involved in the production of goods or delivery of services.

Predetermined Overhead Rate

An estimated rate used to allocate manufacturing overhead costs to individual products or job orders based on a predetermined base, such as labor hours or machine hours.

Labor Quantity Variance

This refers to the difference between the expected amount of labor hours necessary to produce a good or service and the actual hours used, measured in financial terms.

Labor Rate Variance

The difference between the actual cost of labor and the expected (or standard) cost, used as a measure to control and optimize labor expenses.