Analytical CRM: Creating responsive, customer-focused organisations

Abstract

Data remains one of our most abundant yet under-utilized resources Since the beginning of computing in business, organizations of all types have been generating transaction data While a primary purpose of the data was always supposed to be to inform management decision-making, this goal has never been fully realized "Analytical CRAf: Creating Responsive, Customer-focused Organizations'* attempts to provide a structure and framework to maximize this resource towards achieving business objectives by leveraging on customer relationships By outlining all the elements necessary to transform data into knowledge and then into business results, this project report applies some of the CRM analytic tools to the Electrical and 2 Wheeler Business I;nit of SKF Bearings India Ltd The experience of this case study helps to present both the critical success factors that must be present as well as specific, tangible advice to the company for building a robust analytic capability Best practices drawn from ease studies, contemporary literature, and consulting engagement reports have been summari/ed to pro¥ide a checklist for a successftil implementation of CRM strategy in eb^ence, the report emphasizes the learning that seamless integration of CRM components take place \hen the business needs are matched with analytic capability and receptive organizational behavior to provide insights into customer needs and market opportunities, that are ultimately translated Into positive, long-term, learning arid profitable customer relationships, through customized and high-value offerings AHHLYY1.