Which of the Following Would You Implement to Collect and Analyze Customer Data?
In the present scenario of enterprise resource planning (ERP) having made life easier for the CFO but with more questions being raised as to whether the implementation of ERP has become too complex and unpredictable for the business. The answer is ‘No’! Big data has the potential to revolutionize virtually every aspect of business. There are a plethora of technologies and analytics that have the potential of taking small and medium sized organizations to whole new levels. So here is a question of what of the following would you implement to collect and analyze your company’s large data?
Sales Force Automation: Sales force automation software application is one of the most effective ways of automating the sales process. It helps you not only in automation of the actual work but also helps you analyze the entire process from start to finish. By enabling you to capture, manage and analyze all the data relevant to customer interactions, the sales force automation software will help you improve the efficiency of your business. Of late there have been quite a few changes in the toolkits used by most of the companies.
Analytics for Social Media: The analytics for social media is also another integral part of any successful strategy for data collection. Companies need to understand the need for data integration as well as what form of media provides the best information. There are different types of social media and every type provides different insights into consumer behavior. It is hence important to choose the right platform to collect data from. The social media analytics will tell you how the users interact with the system, which of the following would you implement to collect and analyze your company’s data?
Surveys: A survey is an extremely effective way of collecting information regarding consumer behavior. But the best thing about the surveys is that you can collect this information from a broad range of sources ranging from your customers directly to focus groups and even the general population. The key factor is that you gather all the relevant data and analyze it according to your requirement. Analyzing data from all sources not only increases the chances of success but also makes the process transparent. So which of the following would you implement to collect and analyze your sales and customer data?
Surveys It is the best way to understand the customer’s perspective on a particular product. The best thing about the surveys is that they are very low cost method of data collection. Most companies conduct these surveys to study the customer’s views and preferences about particular products. Which of the following would you implement to collect and analyze your sales and customer data?
Panel/ Panel A panel is one of the most commonly used tools to study customer’s and sales behavior. The concept is simple enough to understand and implement. The data collected here is organized in a way that it can be analyzed by a team of professionals. The process here is to study which of the following would you implement to collect and analyze your sales and customer data? Based on the results, the appropriate action plans need to be designed and implemented for further improvement.
Long-term A long-term study is conducted for several months and years. This is usually a part-time job carried out by a sales executive who understands the dynamics of sales and customer data. The job of the executive is to analyze the sales and customer data gathered and determine what changes should be made so that sales and profits are maximized.
Summary Summing up the complete findings from all the different types of sales and customer data studies conducted. This should be done before you make any major decisions to improve the sales force and drive more business through your organization. In addition, the data gathered should be able to inform you about the areas where there is room for improvement and the areas where things are now fine. This would help you make decisions to improve the efficiency of your sales and customer data management system.