BUSINESS INTELLIGENCE IN CRM
OBJECTIVE OF THIS STUDY
At the end of this lesson, readers should be able to:
- Define touch point
- What business intelligence are
- How data warehouse is used as an information base, not as a business
Before we delve into the details of what we have to look at, I would like us to refresh our memory on what touch points are, which is very paramount to what we want to discuss.
A touch point is any interaction between the customer and the organisation or someone representing the enterprise. You should know that the ability of the customer to know more about the customers and use such knowledge is influencing the way they related with their customers is a key to any CRM success.
Data, when seen in the relevant context with supporting facts, became information. Information transforms into knowledge when decision makers are educated about the information and begin to use it. Ultimately, corporate wisdom is gleaned from the information processing, when the business community takes action by consistently using and enhancing this knowledge. You should know that the primary process that facilitates this conversion from data to wisdom is the business intelligence component discussed in the previous chapter.
Business intelligence in CRM component consists of a data warehouse, data marts, exploration warehouse, mining warehouses, the decision support interface and the process of data acquisition and data delivery.
You should know that any successful CRM analytics have a data warehouse of its foundation. It contains all the historical data about the customers which also act as a collection point for the detailed, historical data gathered from operational CRM as we as an operational data store (OAS) where information is stored temporarily before they are transferred to the Data warehouse.
The quality of the data that you have about your customers will determine to a large extent the success of any CRM initiative.
You should note that the data warehouse is primarily mapped to the CLC as an information base, not as a business function. In data warehouse
- Prospect information is integrated with customer information so that correlations can be found in the downstream data marts.
- Capturing of customer interaction history.
- Collection and integration of customer information
- Point of sale information is stored
- Product history is captured
- Key performance indicators that reflect the health of customer relationships are retrained
In another way, from the data warehouse, we can develop other analytical capabilities such as OLAP, exploration warehouse, data mining warehouse among others. Each of these warehouses requires its own data and access tools specific to the business problem at hand.
There are two different orientations of data mart which are application data mart and developmental data mart. A departmental data mart usually satisfies the requirement for the departments who pay for them while application data mart usually satisfies requirements for multiple departments or the organisation as a whole and are funded within enterprise laid budgets.
SUMMARY ON BUSINESS INTELLIGENCE IN CRM
At the end of this lesson, we have been able to discover that:
- A touch point is any interaction between the customer and the organisation or someone representing the organisation
- Business intelligence component consists of the data warehouse, data marts, exploration, mining warehouse, decision support interface among others.
- Analytical CRM have data warehouse its foundation
- There are two different orientations for data marts which were departmental data marts and application data marts.
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