What Is CRM Analytics
CRM Analytics is the abbreviated form of Customer Relationship Management Analytics. Customer Relationship Management is defined as the management process which is widely used by the companies to maintain the relation with the customers.
This technology is utilized in every process of the company, basically in functions of sales activities. There is also some other processes in which CRM technology plays a vital role such as, in the marketing field, in the customer service to interact mannerly with the clients, or in the field of technical support.
The main aim of this CRM technology is that to gain customer’s trust, attract new clients by advertising the new products, maintaining the old customers by giving them beneficial offers and by many other means of using the CRM technology, and also to develop and strategies of marketing and sales.
The Customer Relationship Management analytics is the basic application of the Predictive Analysis. The Predictive Analysis is the main part of statistical analysis. The main role of this is to predict the past relationship with the clients and other sales prospects and use that past methods to improve for the better future results.
There are various methods of CRM technology to improve the relationship such as; we can use better software to increase the flow of sales. This process is known as Sales Force Automation (SFA). This method is very much time efficient and cost effective as the employers have to use less time for consulting each process of sales, and this in results gives the company a profit in hiring less sales representatives, which in turn increases the profit of the company.
Customer Relationship analytics can be assumed as a type of Online Analytical Processing (OLAP), which entertains the use of Data Mining. This technology also helps us to improve Supply Chain Management.
The use of CRM analytics has grown worldwide and this technology now is a modern trend in business and other official or social activities. This helps us to develop business plans and how to grow in the stock market. Nowadays, a new trend has grown to interact with the customers through websites. Taking the information and analysing that information has became a bit difficult task to perform. For this, many software companies have developed software which can perform the function of analysing the data which was given by the customers as a feedback.
The others operations which are provided by the CRM analytics are customer support, activities like creating appointments, increasing the growth of business by the help of social networks such as Facebook, Twitter, Ibibo etc. CRM analytics also helps in making a bridge between marketing and the management.