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1- What is CRM? How do firms practice CRM?

2- Explain the concepts of share of customer, lifetime value of a

customer, customer equity, and customer prioritization.

3- How would you describe Big Data? What are some of the most significant sources of competitive advantage that Big Data offers?

4- Describe the various sources of Big Data for marketers.

5- What is data mining? for marketers, what are some of the most important applications?

6- What is the decision facing State Farm?

7- What factors are important in understanding this decision situation?

8- What are the alternatives?

9-What decision(s) do you recommend? 

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Business Questions and Answers.docx

Running Head: BUSINESS QUESTION AND ANSWERS Business Question and Answers
Student Name
Course
Professor’s Name
Date 1 BUSINESS QUESTION AND ANSWERS 2 Question 1
(CRM) denotes all processes,...

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