Cookies help us display personalized product recommendations and ensure you have great shopping experience.

By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
SmartData CollectiveSmartData Collective
  • Analytics
    AnalyticsShow More
    data analytics and truck accident claims
    How Data Analytics Reduces Truck Accidents and Speeds Up Claims
    7 Min Read
    predictive analytics for interior designers
    Interior Designers Boost Profits with Predictive Analytics
    8 Min Read
    image fx (67)
    Improving LinkedIn Ad Strategies with Data Analytics
    9 Min Read
    big data and remote work
    Data Helps Speech-Language Pathologists Deliver Better Results
    6 Min Read
    data driven insights
    How Data-Driven Insights Are Addressing Gaps in Patient Communication and Equity
    8 Min Read
  • Big Data
  • BI
  • Exclusive
  • IT
  • Marketing
  • Software
Search
© 2008-25 SmartData Collective. All Rights Reserved.
Reading: Decision Management and some top CRM processes for a cost-constrained economy
Share
Notification
Font ResizerAa
SmartData CollectiveSmartData Collective
Font ResizerAa
Search
  • About
  • Help
  • Privacy
Follow US
© 2008-23 SmartData Collective. All Rights Reserved.
SmartData Collective > Business Intelligence > CRM > Decision Management and some top CRM processes for a cost-constrained economy
Business IntelligenceCRMData MiningPredictive Analytics

Decision Management and some top CRM processes for a cost-constrained economy

JamesTaylor
JamesTaylor
4 Min Read
SHARE

A press release caught my eye recently on CRM – Gartner Identifies the Top Six CRM Marketing Processes for a Cost-Constrained Economy. Two of the six processes Gartner identified seem to me to require decision management to be done well.

1.Retention Management
Retaining high value or potential high-value customers is essential in difficult economic times. Gartner advises that organizations calculate the profitability and value of customers, identify those they want to keep and develop retention programs based on their customer segment and identified needs (my emphasis)

Retention is one of, if not the, top use of decision management in CRM. Why is retention so decision-centric? Well several reasons:

  • It is strongly cross-channel as every customer uses different channels so renewal and retention offers must be delivered consistently across them. Decision management ensures consistent decision-making across channels.
  • Policies and sometimes regulations affect the retention offers being made but data mining is key also to developing profitability predicti…


Copyright © 2009 James Taylor. Visit the original article at Decision Management and some top CRM processes for a cost-constrained economy.

More Read

From Obama to the Earth, Please Vote Again
How Artificial Intelligence is Transforming the Corporate World
Jeff Hammerbacher on Experiences Evolving a New Analytical Platform
A New Decision Engine: Hunch, and Guided Analysis for the Enterprise
Big Data Proves Mobile Is Where Your Audience Is: Where Are You?

A press release caught my eye recently on CRM – Gartner Identifies the Top Six CRM Marketing Processes for a Cost-Constrained Economy. Two of the six processes Gartner identified seem to me to require decision management to be done well.

1.Retention Management
Retaining high value or potential high-value customers is essential in difficult economic times. Gartner advises that organizations calculate the profitability and value of customers, identify those they want to keep and develop retention programs based on their customer segment and identified needs (my emphasis)

Retention is one of, if not the, top use of decision management in CRM. Why is retention so decision-centric? Well several reasons:

  • It is strongly cross-channel as every customer uses different channels so renewal and retention offers must be delivered consistently across them. Decision management ensures consistent decision-making across channels.
  • Policies and sometimes regulations affect the retention offers being made but data mining is key also to developing profitability predictions and customer segments. Decision Management combines both.
  • The people handling retention can’t make independent decisions. The call center and front-line staff that talk to people who are considering leaving are not your most highly trained. A decision management approach ensures the most effective and appropriate decision is made for each customer leaving the representative to work on the relationship
  • Finally it is a very measurable decision – someone who said they were going to leave and then does not was clearly influenced by the offer made and thus by the retention decision.

The other one that struck me was

3.Online Marketing
The Web is a cost-effective way to reach customers and one of the easiest channels in which to measure marketing ROI.

Again, decision management would seem to be critical. Web marketing requires use of analytics (web analytics and customer segmentation) as well as rules defining offers and campaigns. It requires all this to be personalized and then delivered in an event-based way (rather than in a big mailing campaigns). Decision management is ideal for this kind of micro-decision rich environment.

Marketing in 2009 needs decisision management.


Link to original post

Share This Article
Facebook Pinterest LinkedIn
Share

Follow us on Facebook

Latest News

data analytics and truck accident claims
How Data Analytics Reduces Truck Accidents and Speeds Up Claims
Analytics Big Data Exclusive
predictive analytics for interior designers
Interior Designers Boost Profits with Predictive Analytics
Analytics Exclusive Predictive Analytics
big data and cybercrime
Stopping Lateral Movement in a Data-Heavy, Edge-First World
Big Data Exclusive
AI and data mining
What the Rise of AI Web Scrapers Means for Data Teams
Artificial Intelligence Big Data Exclusive

Stay Connected

1.2kFollowersLike
33.7kFollowersFollow
222FollowersPin

You Might also Like

The Uncanny Valley of Big Data

6 Min Read
web data collection strategy
Data Collection

How Unrivaled AI & ML Powered Solutions Are Revolutionizing Web Data Gathering Industry

9 Min Read

2012: The Year of Big Data in American Politics

4 Min Read

New Research on Business Rules from Forrester

2 Min Read

SmartData Collective is one of the largest & trusted community covering technical content about Big Data, BI, Cloud, Analytics, Artificial Intelligence, IoT & more.

ai in ecommerce
Artificial Intelligence for eCommerce: A Closer Look
Artificial Intelligence
giveaway chatbots
How To Get An Award Winning Giveaway Bot
Big Data Chatbots Exclusive

Quick Link

  • About
  • Contact
  • Privacy
Follow US
© 2008-25 SmartData Collective. All Rights Reserved.
Go to mobile version
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?