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CRM Analytics

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ALSO CALLED: Customer Analytics, CRM Real-time Analytics, Analytical CRM, Real-time CRM Analytics
DEFINITION: CRM (customer relationship management) analytics comprises all programming that analyzes data about an enterprise's customers and presents it so that better and quicker business decisions can be made. CRM analytics can be considered a form of online analytical processing (OLAP) and may employ data mining. As Web sites have added a new and often faster way to interact with customers, the opportunity  … 
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CRM ANALYTICS DEFINITION (continued): …  and the need to turn data collected about customers into useful information has become generally apparent. As a result, a number of software companies have developed products that do customer data analysis.According to an article in InfoWorld, CRM analytics can provide customer segmentation groupings (for example, at its simplest, dividing customers into those most and least likely to repurchase a product); profitability analysis (which customers lead to the most profit over time); personalization (the ability to market to individual customers based on the data collected about them); event monitoring … 

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