Data Management and Analytics

These two terms ‘data management’ and ‘analytics’ are nowadays very important and well known terms used in business sector. To know about these two things at first we should go through their definitions. These two things cover a vast sector in business and commercial world.

First come the data management. From this term we get to know that it is something related with ‘data’. In an elaborate and simple sense from the words we can assume that it is something about the management of data. There are so many data in the world, each and every sector. So sometimes it becomes really tough and impossible to manage all these data without any particular management policy. It determines this policy. The Data Management Association DAMA provides the official definition of it. They say, "Data Resource Management is the development and execution of architectures, policies, practices and procedures that properly manage the full data lifecycle needs of an enterprise." There is also an alternative definition given by DAMA Data Management Body of Knowledge (DAMA-DMBOK) and that is: "Data management is the development, execution and supervision of plans, policies, programs and practices that control, protect, deliver and enhance the value of data and information assets." In 1980 when technology stirred from ‘sequential processing’ to ‘random access processing’ the theory of data management invoked.

Contemporarily management practice, one can conveniently comprehend a propensity away from the term 'data' in composite expressions to the expression information or also mastery when sounding in non-technological circumstance. So there subsist not only management of data, but also management of information and management of knowledge. This is an ambiguous fashion as it covers that conventional data are administrated or somehow operated on subsequent search. The difference between data and secondary esteems can be seen in the entropy ravel. While data can subsist as similar, 'information' and 'knowledge' are also in the mind of the spectator and can only be counted in relevant parts.

Now comes the second one. Analytics is the breakthrough and transmission of eloquent archetypes in data. Chiefly estimable in fields sumptuous with listed entropies. It depends on the accompanying function of statistics, computer programming and operation research to measure the execution. It frequently promotes data visualization to correspond sagacity. It is generally applied to business data, to explain, anticipate, and amend commercial fulfillment. In particular, fields within it comprise management of business resolution, analytics of sell, fund collection and stock-keeping cell and etc. as it can claim ample estimation, the algorithmic rules and software’s occupied for it restrain the most accepted approaches in computer science, statistics, and mathematic.

Now we get enough information of these two terms. These two terms are very important and effectively applied in each of every fields of business. Nowadays these are hugely used in industries and companies and group of companies to bring and promote better business ideas. These two things are actually nothing but scientific cross-sections. These adjust the correct persons, methods and technology to build the accurate scheme. Big Data move and unveil the beneficial business chances today. 

Different Ways To Communicate With Clients

Customer Relationship Management is a widespread term with regards to communication. It is more than paying for a monthly subscription to a CRM system that does the job for you. You must be utilizing all streams of communication to create a customer relationship management experience. We have many possible streams of communication aside from face to face – Emails, Mobile Apps, Personal Mail and Phone. It is important to make each stream function independently while working with the others to make that experience. Sending the same information through all streams each time is ineffective and aggravating to customers. You have to decide what stream is right for each customer interaction.

Customer Relationship Management

            Emails are most dynamic form of non-verbal communication. On one hand, you can send mass updates to thousands of customers while on the other hand, you can have back and forth conversations on a one-to-one personal level. If you have to pick only one stream of communication, emails are the answer. That being said, emails are most useful for mass updates if you are using all streams.  Phone calls, mobile apps and personal mail can be used on a much more personal level.

            Mobile apps are very versatile as well. The most advantageous part of having a mobile app is the ability to send push notifications. You can tailor these notifications for mass updates or personal updates. When there is a notable change in mortgage rates, a push notification can be sent to all users. You can also have customers enter in their payment cycle so that push notifications can be sent to them to remind them when there mortgage payment is coming up. The possibilities are endless with how much can be customized with mobile apps.

            At this stage, personal mail should be reserved to information/bonuses that actually make the customer feel it was worth to physically open the piece of mail. You have to be careful with what you send through personal mail as many people also advocate green companies as well. Gifts or pieces of information that must be physical documents are acceptable. Newsletters and updates are unnecessary.

            Phone calls are a very touchy stream of communication – telemarketing or anything close to it has left a bad taste in North American societies’ mouths. It is mandatory that there is a good reason for contacting a client through phone. People are forced to drop everything they are doing to answer a phone call so make sure it is worth their time. Save marketing and promotions for other streams, phone calls should be for the customer’s benefit.