Q1. Customer-centric companies are the companies that pay more attention to customer satisfaction by providing exemplary services, and this, as a result, leads to customer retention.
When a company focuses on customers, they increase the customers’ retention rates as well as their loyalty. Customer-centric companies thrive at providing exemplary customer services that greatly increase the rates of customer satisfaction. Studies have shown that when customers are satisfied by a service, they are more likely to come back and also tag their friends along, and this increases the company’s revenues significantly.
The second reason why companies that are customers centric are more profitable is due to the fact that customer retention yields better results when compared to customer acquisition. Studies carried out on the business show that when companies increase their customer rates by 5%, the profits increase by 25% to 95%. The study also proved that customer-centric companies are 60% more profitable than companies that do not focus on their customers.
The last reason that makes customer-centric companies more profitable is that a stable and solid relationship is built between the customers and the works. This makes it easier for the customers to trust the employees and even invest more in these organizations.
Q2
The eCommerce architecture process has nine key components for the foundation of most of the ecommerce companies’ initiative today. Some of these processes include workflow management software. This software is responsible for helping the employees as they carry out their day-to-day work.
The second architecture process is the events notification software that is responsible for notifying the companies customers, workers, and other stakeholders of the upcoming events. This software also notifies the customers of the status of their transactions. The third architecture process is the content and catalog management software. This software is helping the eCommerce companies in developing content, deliveries and generate updates that help in achieving data and information on eCommerce websites.
The fourth process is the profiling and personalization software, and this is responsible for the collection of data on individuals their preferences, characters on the website as well as a website while on the website. These software’s are designed to identify individual users and also provide personalized content of the sites.
The fifth software of the eCommerce architecture process is the access and security control software. This software is ensuring there is trust and guarantees the secure access of the e-commerce transaction process to the authorized personnel only.
Q3.
The advantage that managers have while using the management information systems over the Decision support systems is that an MIS is more secure and enhances information retrieval, unlike in the DSS. MIS also has sophisticated data collection and storage mechanisms that can be stored. Unlike the decision support systems, the management information system comprises four components that make it easy for the storage and retrieval of data and information stored. The first component is the information system component. This component is useful in the collection of data and subsequent storage. The second component is the database management system is the most important in retrieving messages as it includes the
actual physical database, and it is from where it be stored and subsequently retrieved. The third component is the intelligence system component, and this is the component that is concerned with the processing of the data collected and later presenting it comprehensively. The last component is the research component, and this component is responsible for the identification of all problems the organization is like to face. With these four components, the managers can safely store their data and easily retrieve it when lost.
Q4
The overall goal of artificial intelligence is to create a type of technology that enables
computer machines and computers to work intelligently, the intervention minimum intervention
of humans.
Artificial domains are classified into formal tasks, Mundane tasks, and expert tasks. The first classification of artificial intelligence is the. Formal tasks are complex tasks that require skills when performing them. They include mathematics, Geometry, logic, and integration. The second classification is the Mundane tasks, and these tasks are easily understood, and they require no skills as they are skills that one learns easily. They include understanding, language generation, and language translation examples, including reasoning and planning (Dunjiko V and Riegel 2018, p 81). Examples of computer vision, speech, and voice. The last classification is the expert tasks are the most complex skills, and they involve analysis, and examples
include engineering and fault finding.