The purpose of analytical Customer Relationship Management (CRM) is to explore customer data for designing marketing campaigns, customer acquisition and retention, analyzing customer behavior, and analyzing customer profitability for new product development and pricing.
Analytical CRM uses techniques such as data mining, predictive analytics, and statistical modeling to find customer trends and behavior for effective management decisions and forecasting.
A good analytical CRM strategy depends on business processes, data sources, availability of data, and data quality. In addition, measures are used to improve data quality or carry out needed data cleaning techniques. This helps to extract quality data for effective analysis as analytical CRM depends mainly on the data quality.
Ongoing analytical CRM will ensure effective collection and storage of customer data and utilization of data for critical business decisions.
In order to meet business and marketing objectives, predictive analysis techniques are applied to customer data. Techniques such as multiple linear regression and logistic regression models are used to analyze the relationship between customer behavior and the business objective. In such models, the predictive effectiveness of the variables will be assessed.
In addition, other statistical models and techniques such as time-series, event analysis, decision tree modeling, cluster analysis, multivariate analysis, factor and discriminant analysis will be utilized depending on the nature and quality of data availability.
- JBA has professionals with years of experience in design and implementation of statistical techniques to meet business objectives.
- JBA professionals are objective while doing data mining and analyzing customer data.
- JBA's analytic CRM experts are available for ongoing meetings and consultations to explore data sources and variables to meet your business needs.
- JBA's professionals are committed to delivering projects on time and on budget including on-site presentations with full written reports.
- JBA has needed infrastructure to execute analytic CRM functionality and predictive statistical modeling.