All CRM Policies Have Two Basic Elements: Identifying Customer Touch

question 3

True/False

All CRM policies have two basic elements: identifying customer touch points and consolidating data about each customer.

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Definitions:

Sample Averages

This refers to the mean value calculated from a sample of data, representing the central tendency of the sampled population.

Standard Deviations

A statistical measure that quantifies the variation or dispersion of a set of numerical data points around the mean of the data set.

Range

The difference between the highest and lowest values in a set of numbers, representing the spread or dispersion.

Extreme Scores

Statistical outliers in a data set often significantly higher or lower than most of the data.