Integrating Big Data Solutions within their CRM Systems Is Helping A Lot Of Businesses Take Better Decisions Towards Making Their Customers Happy, And Here’s Why
What Exactly Is Big Data?
Big Data is a large volume of data, both structured and unstructured which has the potential to be analyzed for information to help business processes perform better. This data can be from several channels of a customer’s interaction with the company which helps in the analysis of such data to identify customer trends.
How Does It Work?
Big Data being integrated with a Customer Relationship Management system is a revolutionary initiative a lot of organizations have taken towards helping data-driven decision making. This can be used to predict customer trends and behavior to help improve customer service, and accurately calculate ROI. Big Data is used by organizations to collect accurate and detailed information on everything from structured data such as basic contact information like full name, address and unstructured data such as emails, tweets, social posts, comments etc. Most organizations such collect data and analyze it to take better management decisions by being able to forecast business costs and risks to take better decisions. This integration is helping organizations better segment their customers by providing more targeted products and services, and can also be used to improve upon on development of future products and services Big data has been transforming the way companies manage their customer relationships by offering businesses powerful tools that are capable of identifying sales opportunities and analyzing customers’ responses to products, by using a combination of internal data CRM data combined with other Web-based interactions like social media, etc. Big Data along with CRM analytics can help a company recognize business patterns and identify certain trends that allow them to shape their customer experiences in a way which results in increased engagement and customer satisfaction.
Why Are Companies Integrating Big Data Solutions Into Their Customer Relationship Management System?
By carefully analyzing such massive volumes of data a company can better identify customer trends, and this data can then be used to predict future needs of the customer by helping create targeted products and marketing campaigns. It provides businesses with detailed metrics which can predict and help determine ROI and use it to address additional investments. When data around customer-facing operations are taken into consideration, businesses can make appropriate changes and improve decision making. It provides businesses the ability to predict how customers will respond based on their demographics and behavioral history.
What Can We Expect?
Several companies including Microsoft, Oracle, and a lot of others, have been to invest in developing such CRM systems that have Big Data solutions integrated within. Through a detailed analysis of massive volumes of data, there is a large potential for improving on the company’s very bottom line. Such solutions, along with other innovations represent a significant step toward providing organizations with the tools needed to increase productivity, create targeted marketing campaigns, in turn resulting in an increase in customer satisfaction, increased profits, while optimizing their investments.