Coherency of Big Data Analytics and Customer Relationship Management Strategy: Insights from Content Analysis
Coherency of Big Data Analytics and Customer Relationship Management Strategy: Insights from Content Analysis

Author(s): Magdalena Kustelega, Iva Gregurec, Sandra Lovrenčić
Subject(s): Social Sciences
Published by: Udruženje ekonomista i menadžera Balkana
Keywords: Big Data Analytics; Customer relationship Management; Content analysis
Summary/Abstract: Digitalization has empowered companies to enhance their customer relationship management strategy through the use of big data analytics. By collecting and storing huge amounts of customer data in databases, companies can develop more detailed customer profiles and predict their behavior, which ultimately can lead to increased customer satisfaction and higher customer retention rates. This paper provides an overview of existing literature collected from Web of Science Platform and Scopus database, to establish a theoretical framework that examines the connection between big data analytics and customer relationship management. The conducted research indicates that companies use big data analytics to enhance user experience by designing and implementing personalized marketing activities for their “most valuable” customers. However, the existing literature also highlights challenges in implementing big data into customer relationship management strategy, including issues with data storage, data quality, and implementation costs. Therefore, this paper provides valuable insight into both the potential benefits and the obstacles that may arise when both concepts are coherent.

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