Federico Rajola. Customer Relationship. Management in the. Financial Industry. Organizational Processes and. Technology Innovation.

Transcription

1 Federico Rajola Customer Relationship Management in the Financial Industry Organizational Processes and Technology Innovation Second edition ^ Springer

2 Contents 1 Introduction Identification and Classification of Business Objectives Information Quality Development Methodologies and Design Based on Users and on the Needs of the Different Business Areas Identification of Different User Profiles The Selection Process of Alternative Packages Ways of Providing Information The Technological Architecture Organizational Change 7 2 IT is Business: Some Emerging Reflections and IT Governance of CRM Projects Introduction The Role of IT in the Financial System Technology and Innovation The Governance of Innovation Processes The Priorities of CIO in the Financial System Extended IT Governance: Performance and Operational Models Business, IT and Strategy in Banks IT Business Value The Role of IT Governance and the Cultural Gap Towards the Concept of Extended Governance 20 References 24 3 The Theoretical Framework of CRM Environment and Technical Core From Decision Support Systems to CRM: Main Steps in Evolution Research Objectives and Purpose of Present Work 32 References 33 4 CRM Project Organization in the Financial Industry Basic Motivations for CRM CRM Drivers and Key Factors 37 ix

3 X Contents 4.3 Organizational and Technological Evolution of Customer Interaction Points CRM in the Banking Industry Definition and Purposes of CRM The CRM Ecosystem The Analytical Component The Operational Component The Collaborative Component The Organizational Perspective of CRM Data Analysis Techniques Standard Query Multidimensional Analysis Statistical Analysis The Main Requirements for a CRM Solution Main Functional Requirements Main Technological Requirements Main Features and Requirements of a CRM System Cases on CRM in the Italian Banking Industry The Most Interesting Cases Conclusions 59 References 59 5 CRM 2.0 in the Financial Industry Introduction A New Perspective on Bank-Customer Relationships: Building Loyalty Information Systems Supporting Relationships with Customers The Evolution of Demand: The Customer Evolution of Systems Supporting CRM Processes and Loyalty CRM 2.0 Technology Outlook Model Method of Analysis CRM 2.0 Technology Outlook Map Conclusions 81 References 82 6 The Organization of Data Warehouse Activities Introduction The Data Warehouse A Definition of Data Warehouse Components and Architecture of a DWH 88

4 Contents xi 6.4 Main Issues of the Implementation Process of a Data Warehouse Organization of Warehousing Initiatives for Marketing Activities in the Banking Industry Case Studies 94 References 97 7 Organization of Knowledge Discovery and Customer Insight Activities Knowledge Discovery Process Data Mining 101 References Data Mining Techniques Introduction The Most Prominent Data Mining Systems Visualization Neural Networks Neural Networks: A Definition Genetic Algorithms A Definition of Genetic Algorithms Applications in Business and Financial Industry Fuzzy Logic Rule Induction and Decision Trees Rule Induction Decision Trees Cluster Analysis 122 References The Evolution of Customer Relationships and Customer Value From a "Transactional" to a "Relational" Approach The Company Culture The Organizational Structure The Main Processes of Organization Who Is the Customer? The Relationship with Internal Customers The Relationship with Outer Customers The Customer's Life Cycle The Concepts of Customer Satisfaction and Loyalty Definition and Role of Customer Satisfaction Organizing the Concept of Loyalty Understanding the Role of the Customer Satisfaction, Loyalty, and Defection 143 References 144

5 xii Contents 10 Main Benefits and Organizational Impacts of CRM Within the Bank A New Business Organization CRM, IT, and Organizational Approaches Change Management and CRM Initiatives 149 References Data Mining Systems Supporting the Marketing Function: The Experience of Banca Monte dei Paschi di Siena Introduction Market Evolution Operators The Customer The Organization of Marketing Initiatives The Data The Bank New Projects The Marketmine Project Analysis Methods Clear Definition and Comprehension of the Problem Acquisition, Selection, Cleaning and Comprehension of the Data Selection of the Sample for the Use of Data Mining Systems Construction of the Customer Profile Exploration and Tuning of Variables Construction and Application of the Analysis Model The Analysis Model Marketmine: Project Results 173 References Conclusion The Meaning of CRM The Adaptation of Data Warehousing in a CRM Project Using Data Mining in CRM Projects Theoretical Foundations of CRM Critical Success Factors 181