Cloud computing: is a model of computing where firms and individuals obtain computing power and software applications over the Internet (the cloud), rather than purchasing their own hardware and software. Data are stored on powerful servers in massive data centers, and can be accessed by anyone with an Internet connection and standard Web browser. Cloud computing consists of three types of services: * Cloud infrastructure as a service: customers use processing, storage, networking, and other computing resources from cloud service providers to run their information systems. * Cloud platform as a service: customers use infrastructure and programming tools hosted by the service provider to develop their own applications. * Cloud software as a service: customers use software hosted by the vendor.
2) What is customer relationship management?
Customer relationship management systems enable a business to better manage its relationships with existing and potential customers. With the growth of the Web, potential customers can easily comparison shop for retail and wholesale goods and even raw materials, so treating customers better has become very important.
Business benefits include:
* CRM systems provide information to coordinate all the business processes that deal with customers in sales, marketing, and service to optimize revenue, customer satisfaction, and customer retention. This information helps firms identify, attract, and retain the most profitable customers; provide better service to existing customers; and increase sales. * CRM systems consolidate customer data from multiple sources and provide analytical tools for answering questions such as: What is the value of a particular customer to the firm over his/her lifetime? * CRM tools integrate a business’s customer-related processes and consolidate customer information from multiple communication channels, giving the customer a...