Global CRM Analytics Market: Overview
Customer relationship management analytics is an application that enables organizations easy access to data and modernizes business choices. CRM analytics is also used in the online analytical processing by using data mining. It is important for any organization to engage their customers through various personalized and multichannel campaigns as they go through complete buying cycle before thinking of the vendors. This tool offers a number of applications such as profitability analysis, customer categorization, predictive modeling, event monitoring, and what-if scenarios. It facilitates to the marketing team in order to plan, execute, and measure campaigns across various channels and make the tactical decision based on the result that is based on customer behavior and choices.
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Global CRM Analytics Market: Growth Factors
Rising focus to retain valuable customers and increased competition may accelerate the demand for CRM analytics. In addition, increase in the data and having insights about sales is expected to boost the global CRM analytics market growth. CRM analytics offers fact-based information on overall product demand, sales process, pricing effectiveness, and customer price sensitivity, which is anticipated to foster the global market growth. It enables organizations to retain their customers by tracking and managing the performance of the campaign, which may fuel the global CRM analytics market growth.
Global CRM Analytics Market: Segmentation
The global CRM analytics market is segmented based on verticals as retail & wholesales, telecommunications and IT, transportation and logistics, manufacturing, hospitality, energy and utilities, media and entertainment, banking, financial services and insurance (BFSI), healthcare and life science, and others. Based on types, the global market is classified as contact center analytics, sales analytics, web & social media analytics, marketing analytics, and customer analytics. On the basis of end-user, the global CRM analytics market is categorized as small and medium businesses and large enterprises. The application segment of the global market is segmented as contact center analytics, sales analytics, web & social media analytics, customer analytics, and marketing analytics. Of these, marketing analytics accounted for the largest market share globally as it helps various companies to run a number of campaigns and engage customers across channels to exhibit the impact of the marketing investments on the real-time basis and build the sales pipeline. Furthermore, the global CRM analytics market is divided based on deployment as cloud and on-premise.
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Global CRM Analytics Market: Regional Analysis
The global CRM analytics market is segregated based on geography as North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America contributed the largest market share in the global market. This is mainly due to growth in the data and increased awareness to retain the valuable customer. Asia Pacific is following the same trend as it is expected to continue growth in the near future. Growing industries such as BFSI, telecommunications and IT, healthcare and life science, transportation and logistics, and others are fuelling the global CRM analytics market growth.
Global CRM Analytics Market: Competitive Players
Major players in the global CRM analytics market are Microsoft, Salesforce Inc., Angoss Software, SAS Institute Inc., IBM, Accenture, Oracle, SAP AG, and Teradata.
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