CRM and Big Data: Seizing Business Opportunities [Infographic]
Currently, there is much talk about big data, data-driven marketing, as well as decision-making. It is not the obsession with records gathering, it is the efficient way out in digitalized and overwhelmed with information world. Few decades ago, CRM technology shaken up the business running and provided cutting-edge tools for realization customer-centric strategy. So, the coherence of CRM and big data maps out the upward, prolific direction of organization development.
Big Data: Moment of Concept Revealing
During the 19th and 20th century, many politicians and writers stated that it is a common knowledge, the one who owns the information, owns the world. Thus, nowadays the avalanche of data is so enormous that you should know which records to collect and, what is more important, how to interpret them correctly.
is a term that encompasses sets of various information hard to process. Recently, this notion refers to predictive analytics and various approaches to retrieving the most value of gathered data. You can use various channels for records collecting and integrate them with CRM solution for making sense and taking the maximum value of them. But you should be ready to face such challenges as
- incomplete and scale data
- complexity and inaccuracy of record sources
- privacy concerns
- storage and transfer issues
- visualization and realization of the data
Usually, vendors look at CRM and big data as a single emerging technology that helps to evolve customer relationships and increase the quality of service and boost loyalty levels with personalized products.
Major Advantages of Big Data
The value of big data for the businesses shouldn’t be underestimated. The structured and relevant information enhances the decision-making processes, customer segmentation for advancing service and product delivery. While some vendors dwell on the implementation of CRM and big data integration, the leading companies collect and
proceeding in forecasting, improve their performance and adjust the updates and innovations timely. In short, the possibilities delivered by big data provide the near real-time information, aid in directed marketing and relevant sales offers, generate turnaround and reduce response time and expenses.
CRM and Big Data: Is It Worth to Strike Up the Alliance?
Customer-centricity become a focal point for the organizations of various size and strategy type. With the adoption of CRM solutions, companies acquire the powerful tools that leverage data for opportunity identifying, tailored products and services,
of customer relationships building, as well as advanced internal management and data sharing. The integration of big data and CRM reveals new perspectives for
and productive company running. To be specific, you will get the following benefits:
- Increase the number of communication channels and touchpoints with customers what enhances their segmentation and helps to predict interests and needs
- Using CRM for analyzing customer-faced processes (marketing, sales, and support service), you will evaluate the performance, determine ROI and optimize budget planning
- Predictive modeling enables business with the valuable option to draw up a model of customer interaction, buying patterns and define which product to offer by using the demographic and behavioral histories.
For getting a more deep insight into the big data, you should check out this infographic by
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