Describe the capabilities of the core CRM objects in the Salesforce schema.
Salesforce stores data in relational database tables called objects. Several standard objects for customer relationship management (CRM) are provided out of the box. Additional custom objects can be created as needed.
Standard objects are pre-defined database tables and relationships in the Salesforce data model. In addition to the data model, Salesforce also provides core business functionalities for standard objects.
Some of the core standard objects provided by Salesforce are: Lead, Account, Contact, Person Account, and Opportunity. Those objects are related to each other, to properly manage customer relationships.
A Lead represents a potential customer of a company. This can be any person or organization which might be interested in doing business.
Leads store general and personal information about potential customers, such as name, address, website, phone number, etc.
An Account represents an organization involved in doing business with a company. This can be a customer, competitor, partner, or any other relevant business entity.
Accounts store general information about organizations, such as name, address, website, number of employees, etc.
A Contact represents an individual associated with an account. This can be an employee, stakeholder, or any other relevant business associate.
Contacts store personal information about individuals associated with Accounts, such as title, name, address, phone number, etc. They cannot exist without a related Account.
A Person Account represents a consumer involved in doing business with a company. This can be an individual customer, patient, or any other consumer of products or services.
Person Accounts store personal information about consumers, such as title, name, address, phone number, etc. In contrast to contacts, they can can exist without a related Account.
Person Accounts are technically a combination of the Account and Contact objects. They are Accounts of a special type, allowing them to have Contact fields and be used as if they were Contact objects.
An Opportunity represents an sales deal between a customer and a company. Opportunities progress through different stages during the sales process until they are either won or lost.
Since Leads are only potential customers, they need to be qualified to identify whether they have real interest in doing business with a company. If a Lead shows actual interest in doing business, it can be converted to an Account, Contact, and Opportunity.
Salesforce provides can automatically convert Leads into Accounts, Contacts, and Opportunities objects.
Custom fields from the Lead object can be mapped to Account, Contact, and Opportunity fields. Field values are copied accordingly when a Lead is converted.