The present invention relates generally to management, analysis and reporting of data across various data sources and more specifically to a system and method for providing customer analytics solution integrated with statistical models and business reports to an enterprise for efficient management of customers.
With advancements in technology and increase in diversity and complexities of enterprises, Customer Relationship Management (CRM) has become a vital tool for gaining both operational and financial advantage in any enterprise. CRM generally involves various aspects of interaction between an enterprise and its customers relating to sales and/or services. Complete understanding of customer need is one of the important aspects of effective CRM implementations. Acquisition of data related to customers and analyzing customer behavior is an important factor for understanding customer needs. Further, efficient analysis leads to development and retention of customers which in turn facilitates improving business of any enterprise.
Conventionally, various enterprises adopt business intelligence tools, as part of CRM, for analyzing customer relationships with enterprises. Business intelligence tools refer to software tools employed for improving business decisions related to any enterprise. For example, various customer analytics tools exist for analyzing specific data related to customers. Further, various report generation tools exist for generating reports related to specific customer data. Typically, an enterprise need to partner with third party providers of customer analytics tool or report generation tools for obtaining analytics information related to customers. Alternately, enterprises employing customer analytics tools need to integrate with third party providers of report generation tools for obtaining reports related to customers. However, a comprehensive system that provides an effective end-to-end customer analytics solution to enterprises involving customer analytics and business reporting does not exist.
In light of the abovementioned disadvantages, there is a need for a system and method that provides an enhanced customer analytics technique to enterprises which facilitates understanding customer needs effectively to improve services and in turn sales. In addition, there is a need for a system and method that provides customer analytics to enterprises compounded with business reports related to customer data from multiple sources. Further, there is a need for a system and method that provides a unified integrated customer analytics solution which is delivered via a single platform. Furthermore, there is a need for a system and method which enables improving decision making capabilities of an enterprise independently. Also, there is a need for a system and method that facilitates automated generation of complete analytical outputs related to customers.