Explain Operations CRM Versus Analytical CRM. Under What Conditions Would A Decision Maker Use Either Application?
Today’s business market is continuously changing and has since become very competitive. It is paramount that a business organization can share the right information with the right person promptly to improve the organizations’ chances of utilizing prime business opportunities. If the business fails to do this, the results are lost opportunities to sell their products or service and the subsequent loss of revenue. Customer relations management (CRM) software presents an organization with a platform that can help the organization communicate with both its prospects and customers effectively. In this situation, the main objective of the CRM application is to create a bridge between the business and customers’ needs and behavior which can be translated into the provision of better quality service or products.
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CRM can be used to analyze data and provide reports where necessary. Operational CRM is often used to streamline business operations such as automation of sales and marketing or service automation. Here the CRM generates leads, converts them into contacts, captures all the necessary details and provides the service throughout the customer lifecycle. Operational CRM can be applied by companies that are seeking to improve sales through automation. On the other hand, analytical CRM is used to help top management and various departments in determining the best ways to serve their customers. Its primary function is to analyze customer data from different touch points, gets the insights from the status of the business. This information helps the management and decision makers in evaluating the effectiveness of marketing campaigns and strategies. It helps the company to make more sales and help the personnel to improve quality support and create strong customer relations. Analytical CRM is suitable for businesses that seek to improve customer relations as well as combining and integrating various aspects of their business.
