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In one of my articles, I have talked about the three branches of customer relationship management. We have Operational, Collaborative and Analytical CRM. I have defined Analytical CRM as applications and processes that are been used to analyse all the data that you have about your customers in order to make business decisions. In this article, I want to look at the four processes involved in Analytical CRM. Let us look at this together.
The first thing to do is to capture the data from the Operational Data Store. That means you are capturing raw data as they are coming in from the front offices. The data are captured from the operation data store. When we talk of Operational Data Store, we mean the front office staffs who relates directly with customers. It is from there that they are been transferred to data mart and data warehouse.
After we might have captured the data, the organisation must have machinery in place that will remove junk data that are replicated or not needed for decision making. That is when analysis of the data can come in. You will want to know the pattern of interaction that are common to your customers. You are trying to see those patterns that are common to all your customers. This will help you to know the next best product to offer to customers.
After you might have analysed data, the pattern of interaction that are common to all your customers need to be analysed. You need to use the knowledge you have gained to affect customer interaction. The result of your analysis must be a basis for all business decisions you are going to make.
After you might have planned based on the result of your analysis, you need to now plan your interaction with your customers. This is when you now introduce changes to all your touch points based on the result of the analysis. You want to see how customers will react to the new changes that you have introduced.
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