Although customer relationship management systems have been touted as a way to gain a 360-degree view of customers, the amount of data they contain and process provides a limited scope, Christopher Bucholtz wrote in a recent CRM Buyer article
Bucholtz likens CRM systems to the technology Navy ships use to watch out for dangerous items on the ocean. The radar systems are effective, but people are still required to stand on deck looking out for logs and other debris that could still cause problems despite not being big enough to make blips on the screen.
The information from loyalty programs and the data collected at point-of-sale terminals can provide businesses with helpful insight, but it may not help them see more subtle aspects of customers' buying preferences that can affect their decisions to make purchases or not.
To fill in these gaps, many consumers are using big data in tandem with their CRM systems, according to Scribe CRM Trends. However, it's important to remember that this isn't a one-and-done approach to gathering business insight. Successful information-gathering processes require regular revision to make sure data quality
remains high and improves over time.