Customer Relationship Management Analytics

What Does Customer Relationship Management Analytics Mean?

Customer relationship management analytics (CRM analytics) refers to applications used to evaluate an organization’s customer data to facilitate and streamline business choices. CRM analytics also may be used for online analytical processing (OLAP) through the use of data mining.

Advertisements

CRM analytical tools use a variety of applications that help measure the effectiveness of customer related processes and ultimately provide customer categorization, such as profitability analysis, event monitoring, what-if scenarios and predictive modeling.

Techopedia Explains Customer Relationship Management Analytics

Through CRM analytics, websites interact with customers more efficiently. This, in turn, makes customer data gathering requirements and opportunities more evident.

CRM analytical tools help in many areas, including:

  • To evaluate customer service and satisfaction
  • In the verification of user data
  • In the improvement of supply chain management
  • By allowing for more aggressive pricing or better pricing policies

A major challenge of CRM analytics may arise from complications related to integrating legacy systems with new systems and analytical software.

Advertisements

Related Terms

Margaret Rouse

Margaret is an award-winning technical writer and teacher known for her ability to explain complex technical subjects to a non-technical business audience. Over the past twenty years, her IT definitions have been published by Que in an encyclopedia of technology terms and cited in articles by the New York Times, Time Magazine, USA Today, ZDNet, PC Magazine, and Discovery Magazine. She joined Techopedia in 2011. Margaret's idea of a fun day is helping IT and business professionals learn to speak each other’s highly specialized languages.