CRMs help predict the future because they can track historical information that is useful to predicting future sales.
CRMs help predict the future and every business needs to predict the future. The reasons are numerous. Predicting the future is critical to knowing how much capital you need for a startup to get it to the point where positive cash flow can sustain the ongoing operations and the growth of the firm.
Predicting the future is critical to allocating capital for various major and minor capital expenditures. Predicting the future accurately helps you to decide which marketing plan is worth funding and what kinds of training for employees will generate the greatest increase in customer experience metrics.
All of the above reasons for a business to be able to predict the future are great reasons to find a CRM that is useful for capturing the kinds of information that make it easy to predict the future.
One of the things about historical information that are often not fully appreciated is that it is not always obvious what kinds of information are best predictors of future performance. This is where a powerful CRM solution can be extremely helpful. By generating reports that allow a variety of data to be searched and extracted you can input the results into a number of statistical analysis packages and use the data to run regression analysis to find variables that are highly correlated with revenue fluctuations. By analyzing the data from a CRM you can determine hidden and non-obvious relationships and illuminate predictor metrics that you may not already be aware of. This is the concept of Data Mining.
Sound complicated? It is… but it is something that we can help you with. We have experience in designing data collection and mining and analysis for businesses Give us a call at 817-569-0494.