Operational
and Analytic CRM
While working with CRM we often see that a good CRM
implementation needs to address the requirements of both the analytical as well
as operational objectives. A successful implementation often relies on the
interactions with the customer for data collection and then leveraging that
data for analysis.
Operational CRM often is related to the processes that are
related to sales, marketing, operations and services. This is often an end to
end solution beginning from the initial contact, to the final payment and the
ensuing customer service. CRM succeeds in integrating all the key customer
metrics and processes.
Business
Intelligence software tools are used to transform the raw data that is gathered
from multiple meetings with the client into useful information and provide
insight to the stakeholders, to improve the decision making timeliness and
accuracy.
The Essential Problem:
Every management faces the
quintessential problem, i.e to consistently make the right strategic and operational
decisions in a timely and accurate manner. To make the right decisions, one
needs to have data that is not incomplete, inaccurate or irrelevant.
The Solution:
Integrating DW/BI with CRM and essentially using it as a
repository to first collect and then integrate all the customer related
information, not only from the operational systems, but also the analytic
systems as well as external sources. The goal is to make the DW the foundation
of the CEM process. Once the data has been accumulated and integrated, Analytic
CRM can be enabled. The advantage of this is that the results can be measured
and the customer data can be leveraged to identify cross-sell opportunities,
identify inefficiencies and improve customer retention.
The
following steps should be followed to successfully implemented to deploy a CRM
system integrated with BI.
Ø
Identify key requirements/
objectives: One
of the first steps is to identify the requirements of the stakeholder. Any
relevant and first-hand information that can be obtained holds relevance to a
successful deployment.
Ø Resource Allocation: IT participation plays a huge part in implementing BI solutions. Tasks like data cleansing, transfer, consolidation and integration require skill and expertise. The technical resource pool in the team can contribute effectively in these tasks. Meanwhile, focus should also be on business objectives providing operational insight. Business intelligence is best achieved by leveraging skills, from both the IT staff as well as business staff.
Ø Resource Allocation: IT participation plays a huge part in implementing BI solutions. Tasks like data cleansing, transfer, consolidation and integration require skill and expertise. The technical resource pool in the team can contribute effectively in these tasks. Meanwhile, focus should also be on business objectives providing operational insight. Business intelligence is best achieved by leveraging skills, from both the IT staff as well as business staff.
Ø
Defining metrics: Key performance Indicators
(KPIs) need to be identified as the defining characteristics for a successful
implementation. KPIs often drive performance selecting it is depends on the
business plan, budgets and the objectives. Customer service is
sure to measure strategic metrics such as customer satisfaction and retention.
Its important to start with fewer and more relevant metrics and increasing
progressively.
Ø
Determine sources of data: For CRM analytics, the bulk of
data is likely to reside in the central repository. However, additional sources
may exist, like a Content Management System(CMS), Enterprise Resource Planning
(ERP) system and some transactional applications.
Ø
Determine the tools to be used:
A CRM analytics or operational platform often includes data visualization
technologies like dashboards. Scorecards and OLAPs are effective tools for effective querying,
reporting and other analysis.
Conclusion:
Information is the fuel that power's intelligent organizations. However, management's traditional use of reviewing
static, generic, historical reports which usually only pull data from a single
source is no longer sufficient in competitive markets. These reports are
designed for passive viewing and do little to proactively advance business
initiatives in the shortest cycles possible.
BI solutions are increasingly popular,
and beginning to be embedded with traditional and on-demand CRM software
solutions. These tools offer increasing value when extended throughout the
business. Strategic, Data driven projects such as annual business plans, budgets, workforce analysis and
more can strongly benefit from automation and analysis with BI solutions.
References:
www.wikipedia.com
References:
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