Time for analytical CRM
Still doing customer analytics in Excel? It's about time for analytical CRM.
Analytical CRM is the area of customer relationship management (Customer Relationship Management - CRM), focusing on a systematic analysis of data about customers and their transactions. Thus, the analytical CRM, actively utilizes the data analysis technologies and analytical platforms.
AnalyticalCRM differs from:
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Operational CRM, which collects and organizes the storage of data about customers and their transactions to create reporting and sales automation
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Collaborative CRM, which coordinates the activities of departments working with clients.
The main components of an analytical CRM system are:
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DataLake - used to collect, integrate, and preprocess customer data for analysis
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Analytical Services - allow to apply different methods of data mining or machine learning to customers data, to test hypotheses and build analytical models for customer classification and market segmentation, discovery of patterns of their purchasing behavior and forecasts for customer relations
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Dashboarding Reporting OLAP - module for complex analytical reporting and visualization
The application of analytical CRM gives the following advantages:
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allows you to improve the quality of the customer base by identifying the most valuable customers, building their "image" and cloning them (i.e. directing the greatest efforts to attract new customers who correspond to this image)
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allows to improve the quality of services by understanding the customer values
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enables better planning of marketing campaigns
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improves targeting
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increases the effectiveness of loyalty programs
You are never too late for analytical CRM. This is the right investment in the future of your company, since it’s about your most important asset – your customers.
