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ECT News Community   »   CRM Buyer Talkback   »   Re: Customer Relationship Metrics Takes On the Unstructured Data Challenge

Re: Customer Relationship Metrics Takes On the Unstructured Data Challenge
Posted by: Denise J. Deveau 2012-04-03 00:22:08
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Customer Relationship Metrics has launched Text BI, its latest offering in its suite of managed analytics solutions. Text BI enables companies to take unstructured text-based data from surveys, emails, social media, CRM systems and other applications, and organize it into a format that makes it easier to analyze. Deployment of Text BI begins with a thorough assessment of the data sources that are most important to the company. Armed with this information, Customer Relationship Metrics creates a road map and puts the proper tools in place to define a cohesive strategy for collecting and analyzing data.

Is “Knowledge” Enough to Get Ahead in Competitive Business World?

Technological advances and changes in market conditions, competition in the business world has become much more severe than ever before. Competition environment and tools evolve day by day and each technological progress results in a more sophisticated successor. Rates of people that can access to information, shopping preferences, hobbies, social interactions, and habits have changed as never seen before. In such a competitive and dynamic environment; profitability, productivity, work flow processes, interaction channels, and expectations should be parallel to changes.
Using newest and most expensive solutions and allocating serious budget is not enough to get ahead in today’s business world. Old-style marketing approaches (mass mailing, mass communication, segmentation, etc.) are out of date due to low positive response rates. Customers are not attracted by offers if it is not personalized and not in relevant time. Companies create unresponsive customers with wrong CRM strategies or/and tools.

The key point to get ahead is having the correct mindset, perception and methodology: CEP (Complex Events Processing) concept which covers monitoring, filtering and detecting meaningful event patterns, usage of instant and historic data, responding with smart actions; enables companies to detect problems, threats and opportunities instantly and respond accordingly at that time. Processing data in real-time for the finest response improves institutional competency to the extreme. Intellica's CEP tool , EVAM (Event and Action Manager) introduces new marketing paradigm which is established on three main concepts; “Real-time”, “Event Driven”, “Contextual”. It’s not only about understanding who someone is; but where they are, what they are doing, and what they are likely to do next. It’s about leveraging as much information as you can about a customer and the context to deliver the best message/offer at the precise moment it offers the most value. The real value of contextual marketing is a high degree of personalization, which results from specific, more targeted and relevant customer communications. EVAM will help to companies to build not CRM but CRRM (Contextual Real-time Relation Management). EVAM brings two main outcome with this approach;
- Better customer experiences
- Better financial results

Crucial events to consider, actions to respond are implemented once and used in any scenario for years, without IT dependency. The set of events, actions and scenarios can be modified any time with ease. Any office user that can design workflows can use EVAM's user-friendly Designer Interface to design any business idea in minutes for production. By this way; institutions can manage 4R’s of successful marketing: “right offer” to “right customer” via “right channel” at “right time”.
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