CRM and Customer Data

Customer relationship management (CRM) is that part of an enterprise's business strategy that enables the entire enterprise to understand, anticipate and manage the needs of any current or potential customer. One result of implementing CRM, and of effectively managing the many 'touch points' or customer interfaces, is the large volumes of data that are generated. The data can come from the company's face-to-face interactions with the customer, its direct mail, email or call center interactions, mass media, or market research. However, not many organizations have been able to use this data effectively. Therefore, the purpose of this document is to take a view on how today's organizations handle their customers' data. It takes us from the very first steps of collecting this data through using it (while introducing necessary changes) till the point of reusing it in order to deliver value to the customer.