What is Customer Satisfaction ?
February 12, 2025
Ever since we stepped into internet world, we find a sea of change in the way people buy, communicate and socialize with one another. Internet has succeeded in erasing the boundaries and bringing markets together. Today it is possible for one to sit in the comfort of his home or office and search for information […]
Whenever one talks of E marketing strategy or plan, they normally include online selling, online promotions and advertising. However this could be a very narrow view or definition as applied to E marketing. Planning for Customer Relationship Management is as important as paying attention to online selling efforts. Let us look at understanding some of […]
Customer Relationship management is a two way interaction. The Organisation has got to devise ways and means to reach out to the customer and more importantly receive the feedback received from the customer. There are two important aspects to be considered in a Customer Relationship Management. First is the customer interaction in terms of quality […]
The Philanthropy of the Mega Rich The recent announcement by Mark Zuckerberg, the Founder of Facebook, that he would give away 99% of his shares in his company to charity has brought into focus the trend of Billionaires giving away their fortunes to charity. Indeed, starting with the founder of Microsoft, Bill Gates, and including […]
It is difficult to exactly define customer retention as it is a variable process. A basic definition could be ‘customer retention is the process when customers continue to buy products and services within a determine time period’. However this definition is not applicable for most of the high end and low purchase frequency products as […]
Analytical CRM supports organizational back-office operations and analysis. It deals with all the operations and processes that do not directly deal with customers.
Hence, there is a key difference between operational CRM and Analytical CRM. Unlike from operational CRM, where automation of marketing, sales-force and services are done by direct interaction with customers and determining customer’s needs, analytical CRM is designed to analyze deeply the customer’s information and data and unwrap or disclose the essential convention and intension of behavior of customers on which capitalization can be done by the organization.
Primary goal of analytical CRM is to develop, support and enhance the work and decision making capability of an organization by determining strong patterns and predictions in customer data and information which are gathered from different operational CRM systems.
The following are the key features of analytical CRM:
Analytical CRM is a solid and consistent platform which provides analytical applications to help predict, scale and optimize customer relations. Advantages of implementing and using an analytical CRM are described below.
The power of CRM provides a lot of managerial opportunities to the organization. It implements the customer information in an intelligent way and creates views on customer values, spending, affinity and segmentation. Analysis is done in every aspect of business as described below:
The essential results produced by Analytical CRM system could diversely help the organization to tackle customers’ based on values. It also helps in determining which customer is best to invest in, which can be treated at an average level and which should not be invested in.
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