BI and CRM: Critical Success Factors for Achieving Customer Intimacy: Introduction

by Larissa T. Moss

Organizations have known for decades that their operational systems contain mountains of untapped knowledge about their customers and about their businesses, which could significantly enhance their relationship with their customers. Customer intimacy, such as knowing customers' preferences, their buying habits, their life events, and their expectations, would allow organizations to customize their products and services to match them to the individual needs of their customers. The expected result of this personalization is higher customer satisfaction and customer retention, which translate to increased profit potential. Technology advances are finally enabling companies to extract that business knowledge from their maze of systems and gain a better understanding of their customers in order to stay competitive. Business intelligence (BI) and customer relationship management (CRM) initiatives are two prime examples of using innovative technology solutions.

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BI and CRM: Critical Success Factors for Achieving Customer Intimacy: Introduction November 2001