Organizations, large and small, have embraced a data-driven approach to analyze and organize information to serve their customers better and reach their goals with more informed business decisions. With actionable insights from data analysis, a data-driven approach can optimize your business’s marketing campaigns, customer relations, operations, revenue generation and net profits.
However, the success of your data-first strategy depends heavily on the type of data management systems you use. This guide will help you launch a successful data-first strategy by providing the essential details about the four types of data management.
Customer Relationship Management System or CRM
A Customer Relationship Management System (CRM) is a database for all customer data sources. It stores customer personal data, sales metrics, sales prospects, subscription renewals, revenue data and more. For this reason, CRM serves as the primary interface for sales team reps to store every contract, lead, case and other customer-related data.
In addition, sales and marketing teams rely on CRM systems as a source of in-depth customer behavior and preferences data. They can use insight from sales activity data to shape their sales and marketing strategies.
Marketing technology systems
Marketing technology systems are essential in helping marketing teams manage marketing campaigns and operations. Since marketing is multi-faceted, this data management system can come in different forms, such as advertising data management software, marketing automation platforms, email service providers and several other variations.
With the help of a highly functioning iPaaS platform like Lumino, this marketing technology system can operate in sync with CRM systems because they support CRM integration. As a result, you can:
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Manage marketing campaigns based on CRM data
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Benefit from automatic updates on CRM data
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Get a complete view of customers’ details
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Gain a broad perspective of customer insights
Data warehouse systems
Data warehouse systems serve as the primary customer data archive. These systems hold all the product usage and customer satisfaction data. As such, data warehouse systems are a valuable customer data resource for various systems, including financial applications, sales and marketing systems, operation platforms and purchasing systems. Also, data warehouses supply these different systems with standardized, clean and applicable versions of the customer input data.
So, data warehouse systems are valuable data management tools whenever you need to find out how your customers are purchasing or using your products or services. They also show the degree of satisfaction of customers, any issues they may have and problems your product or service solves.
Analytics tools
Analytics tools are available in many distinct types. But the most valuable tools are data visualization, business intelligence and reporting. With their specific functions, analytics tools and reporting systems allow you to process, visualize and format the accumulated customer data to gain insights for better business decisions.
Analytical tools can help you analyze and process your data for current or specific insights, customer trends and high-visual diagrams depicting data to help you draw actionable conclusions.
Incorporating data management systems in your data-first business strategy
With the help of data management software, you can use any of these data management systems to obtain the vital insights needed to advance your business objectives. However, you should apply equal diligence in finding the ideal Integration Platform as a Service (iPaaS) to ensure your data-first organization functions to its peak capabilities.
For example, an iPaaS platform like Lumino manages the integration of data and applications across multiple cloud or on-premises data ecosystems. It allows you to easily connect and integrate your data management system with other data sources and applications with pre-built connectors and APIs. Schedule a demo today!
