Role of Customer Relationship Management in Marketing Decision Making: Predictive Analytics Approach

Abstract

Customer Relationship Management (CRM) is the technique of continuous interaction with customers to attract and retain them in the business. This paper aims to identify various dimensions of CRM that significantly affect marketing decision making. These dimensions have been extracted from the existing literature and tested through a predictive technique – Multiple Regression Analysis. Data were collected from 216 respondents from customer-centric businesses such as retail and financial services. The results indicated that the dimensions such as 'understanding, communicating, and fulfilling the needs, retaining, and generating value, engaging customers, Individual marketing, 'maintaining loyalty have a significant impact on 'Marketing Decision Making'. The results may be suitably applied by the CRM managers to sharpen and customise their decisions. The study is limited to the conclusions derived from primary and numerical study. A qualitative validation of these results by future researchers may add more value to the results of this study.