If you already use a CRM for your business, you might be looking for ways to improve its efficiency and applicability in your organization. How can I evaluate all the customer data in my CRM to streamline the organization’s decision making? How will CRM data analytics benefit my business? If you are thinking along these lines, then CRM and analytics will help you revolutionize your business. Things got easier and better with SuiteCRM because it just got its own fully extendable Business Intelligence tools. Let’s explore SuiteCRM Analytics and see how it will benefit your business!
What is SuiteCRM Analytics?
SuiteCRM Analytics is an open-source, free-to-download and ready-to-use business analytics platform. Through it, the CRM users can launch and administer their Business Intelligence (BI) Platform. It is also extendable so you can easily customize it, according to your business needs and requirements.
Components of SuiteCRM Analytics
But, what makes up SuiteCRM Analytics? Precisely, it has two components:
- SuiteCRM Data Integration
- SuiteCRM Web Analytics
SuiteCRM Data Integration
Does the terminology sound quite technical? Let us simplify it for you. Being an Extract, Transform and Load (ETL) solution, SuiteCRM Data Integration can connect with any SuiteCRM instance and extract data from your databases. After the data is collected, it is transformed into a shape that is required for performing analytical solutions. Later, the data is loaded and optimized for getting better insights through visualizations.
Now let’s try to understand this through an example. If you own a small-scale business, you would need sales data, account data, employee data, etc. Through CRM Data Integration, you can integrate all your data within the CRM and from third-party software into one place.
SuiteCRM Web Analytics
As companies are expanding their footprint in the digital space, it is imperative to keep a track of all the unique visitors on your website. With SuiteCRM Web Analytics, you can have a web-based analysis along with reporting. But how is this done? It’s simple. The users can log into the web portal to explore the data extracted from SuiteCRM and third party sources. It gives them the option to run data and filter it along with creating dashboards. You can also schedule or import reports and present them in an interactive way through visual charts.
Benefits of CRM and Analytics
SuiteCRM gives you insights into your customer’s behavior. However, integrating it with an analytics component makes it quite efficient. So, read on to find out how CRM integration with analytics will add value to your business.
Understand Your Customers Better
For any business, the customer is the focal point. You need to take all measures to keep your customers happy and satisfied. With CRM and analytics, you can make your customer experience better in less time. Yes, it works like magic! Through customer relationship analytics, you can extract customer behavior trends from big data. This will help you to utilize SuiteCRM analytics to improve the products, anticipate consumer needs and improve your marketing efforts. You can also maximize customer lifetime value by identifying your best customers and pitch special offers to them for cross-sell and up-sell.
Predictive Analytics
It’s always better to plan ahead of time. CRM predictive analytics will help you to forecast future trends. SuiteCRM Analytics will enable you to recognize patterns from repeated customer transactions, historical data, customer intent, and relationship cues. In this way, you can leverage technology to have a proactive approach - giving you a competitive advantage.
For example, if you are a company that offers any product or service on a subscription basis, you would want to know if the customer will renew the subscription or jump to another company. In such cases, it is important to decide how much time, money and effort you are going to spend to retain the customer. Through CRM data analytics, you can use different business intelligence tools to determine if the customer is happy and would want to renew or upgrade their subscription. One parameter to judge this is the number of complaints from a particular customer. Therefore, you can group customers into categories and gear your efforts accordingly.
Benchmarking
Another benefit of CRM data analytics is that it provides you a holistic view of how you are performing compared to your plan or goals. There’s an easy way to do it. Yes, you are guessing it right! SuiteCRM analytics will help to benchmark your performance in comparison with your competitors in multiple industries. This will enable you to get data on key indicators including revenue per customer, customer satisfaction and customer retention.
Better Decision Making
SuiteCRM analytics will give you a clear picture of how your company is performing in different business domains. It will help you in making critical business decisions such as when to invest or outsource a task. Moreover, you will have a good understanding of your customer-facing operations because CRM and analytics provides a big picture of your business.
The Bottom Line!
As SuiteCRM has data-mining abilities, you can delve deeper into your data to find correlations, track trends and determine patterns of unique customers. This will help you to improve your customer experience and have a proactive approach. Therefore, take advantage of CRM data analytics to stay ahead of your competitors!
RT Dynamic, being an Official SuiteCRM Partner firm, is proficient in the provision of services including SuiteCRM Migration, Integration, Customization and Support. Get in touch by filling out the Contact form. We will be glad to assist you!
