1 Analytical CRM may be defined as a decision support system that is targeted to helping senior executives ,marketing, sales and customer support personnel to better understand and capitalize upon their customer needs, the c customer buying cycle.
Analytical CRM consist of applications
that enable business to analyze relevant data in order to achieve a more
meaningful and profitable interaction with the customer.
It uses customer data for analysis,
modeling and evaluation to create a mutual relationship between company and its
It helps to better understanding of
The analytical CRM solution enable the
effective management of a customer relationship. Analysis of customer data can
a company begin to understand bahaviours,identify buying patterns and trends
and discover casual relationship.
Key features of Analytical CRM
integrates and inheriting all this data into a central repository knowledge
base with an overall organization view.
combines and interacts the value of customers with strategic business
management of organization and value of stakeholders.
determines, develops and analyze inclusive set of rules and analytical methods
to scale and optimize relationship with customers by analyzing and resolving of
NEED OF ANALYTICAL CRM
PURPOSE OF ANALYTICAL CRM
and execution of targeted marketing campaigns to optimize marketing
and execution of specific customer campaigns, including customer
acquition,cross selling, up- selling, retention.
of customer behavior to aid product and service decision making.
of the probability of customer defection
CRM generally makes heavy use of data mining.
of analytical CRM
more profitable customer by providing high value services.
profitable customer through sophisticated analysis.
individual customer needs and efficiently improving the relationship with new
and existing customer.
customer satisfaction and loyalty.
and explore useful knowledge in large customer database.
helps in classifying customers, predicting customer behavior.
Steps in analytical CRM process Step:1
Channel or approach analysis. Step:2
Machine learning techniques Step:4