CRM & Big Data Analytics

What is this Big Data everyone keeps talking about these days ?

Big Data refers to the huge volumes of data being generated everyday that can be mined for information. The data can be structured or unstructured and is often characterized by the 3 Vs: volume of data, variety of data types and the velocity at which the data must be processed.

Where does this data come from ?

The data is generated from multiple sources such as social media platforms, server logs, web click streams, mobile apps, database stores, business records, etc. Interestingly, limitless data can be generated using real-time sensors embedded in devices that can be connected to the internet through a technology that is known as “Internet of Things”. But this data is insignificant without tools that can process and analyze it.

How can CRM leverage Big Data ?

The possibilities that Big Data creates are endless but you need to have the right tools to derive detailed insights from these heaps of data. Consequently, if companies want to reap the full benefits of big data, they first need to invest in Customer Relationship Management software. A CRM can keep track of the data trail that customers of a business leave on various relevant online platforms and present the data in a rational and coherent way.