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CRM and Customer Analytics

While many organisations are investing thousands or millions of £s in cutting edge customer relationship (CRM) technology, the effectiveness of the system can be seriously undermined if no thought is given to customer data, its quality or use.  Studies have shown that when companies have no data quality programme in place, customer information is no more than 60-70% accurate.

There are three key elements to a CRM system. 

1. Customer information is collected from all channels  
2. This information is deposited into one central CRM database  
3. The CRM database is made available to customer-facing functions and staff in real time.

Analytical software applications fall into two distinct areas:

1. Business Intelligence tools  
2. Customer analytics or customer behaviour modelling

To read this factfile in full, please download the attached pdf (scroll down to the bottom of the page).

For a full 122 page report on CRM please see  Customer Relationship Management, Volume 1.

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