Customer relationship analysis

What is customer relationship analysis?
Customer Relationship Analysis (CRA) is a term for systems that help analyze data about customers so that companies can plan better or make better decisions. CRA tools can order data and provide accessible results with data mining to support human decision-makers in sales, customer contact and other business processes.

At its core, CRA is very similar to Customer Relationship Management (CRM). The main difference between using these two terms seems to be that while CRA is more related to the analysis of stored data, CRM is mostly applied to systems that make existing data visible when interacting with customers, or to systems that in general depicting a picture of a single customer, not necessarily for data mining, but for general reference. For example, a simple visual sheet of customer contact information would normally fall under CRM, while a software product that analyzes hundreds of customers and sorts them into actionable categories would fall under CRA.

CRA can provide results such as a profitability analysis, which can evaluate who is likely to make purchases in a given scenario. It can also make other forecasts to give a company a clearer picture of its prospects with a customer base. As with CRM, CRA can also help a company to 'know' its customers better and thus to serve them better. One of the main challenges of the CRA, which is reported by experts, is the task of integrating these tools into an existing IT structure.

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