||Customer Relationship Management (CRM) and
Business Intelligence (BI)
Customer Relationship Management (CRM) and Business Intelligence (BI)
Businesses today realize the importance of customers.
The reason that business exists is due to their customers.
Developing relationship with customer and managing it
efficiently and effectively for the benefit of both the
customer and the business is an important objective.Customer relationship management helps business
achieve this goal.
CRM is used today by businesses to enhance the
effectiveness of marketing, sales and customer service efforts. CRM enables businesses to
increase understanding of its customers. Customer Relationship Management (CRM)
applications facilitate the capture, consolidation, analysis, and enterprise-wide
dissemination of data from customers. CRM should be viewed as a combination of people,
process and systems rather than an IT application.
- CRM consists of the following
- Customer interaction management
- Workflow management
- Customer decision support
- Customer information management
Businesses have collectively invested billions of dollars in Customer Relationship Management (CRM) over the past decade. They have also added multiple touch points call
centres, websites, email systems, interactive kiosks) to serve customers across various
sales, service and support processes. These technological enhancements have created an
explosion of customer data strewn across scores of application databases, data
warehouses, data marts and legacy systems.
Business intelligence systems, which traditionally processed highly aggregated historical
data, have also expanded their scope to monitor and manage individual transactions and
business processes in real-time. As a result, they can generate alerts when an important
event occurs or there is a departure from expected behaviour. Key performance indicators
can be monitored continuously and displayed on digital dashboards that are tailored to
meet the needs of different individuals.
Damsk has experience in implementing CRM and BI systems.