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CRM 'must increasingly support profit optimization'

Rachel Wheeler

December 10, 2010

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Customer relationship management (CRM) initiatives must increasingly support central business aims, an expert has suggested.

Steven Pinchuk of Profit Optimization Strategies argued that CRM should no longer be regarded as just a database of customer names and contact information.

Writing for hospitalitynet.org, he claimed instead that CRM should take on a key role in supporting profit optimization across entire enterprises.

Indeed, Mr Pinchuk referred to the 2010 report from IBM and SloaneMIT entitled "Analytics: The New Path to Value" which urged business leaders to focus on the biggest and highest value opportunities and suggested that within each opportunity, companies should start with questions, rather than data.

"Everything begins with, ends with and flows from the enterprise's interactions with its customers," commented Mr Pinchuk.

"Enterprises should craft a long term strategic goal of adopting the best possible tools for interacting with their customers and create the best possible database of customer information and predictive analytics."

Posted by Richard JonesADNFCR-2366-ID-800284897-ADNFCR

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