What is Customer Relationship Management Analysis (CRM Analysis)?
Customer relationship management analyzes (CRM analyzes) refer to applications that are used to evaluate a company's customer data in order to facilitate and optimize business decisions. CRM analytics can also be used for online analytics processing (OLAP) through data mining.
CRM analytics tools use a variety of applications that help measure the effectiveness of customer-related processes and ultimately provide customer categories such as profitability analysis, event monitoring, what-if scenarios, and predictive modeling.
With CRM analytics, websites interact more efficiently with customers. This in turn makes the requirements and possibilities of customer data collection obvious.
CRM analytics tools help in many areas including:
- To evaluate customer service and satisfaction
- When checking user data
- In improving supply chain management
- By allowing more aggressive prices or better pricing policies
A major challenge in CRM analysis can arise from the complications involved in integrating legacy systems with new systems and analysis software.