Value of CRM information 'evolving'

Customer relationship management (CRM) is evolving in terms of value given the information it is able to gather, a leading expert in the sector has explained.

Practice director and vice-president of eVergance Partners LLC Esteban Kolsky told Inside CRM that in order for data gathered by CRM to have any resale value, it needs to have the ability to be applied through a number of different search criteria, allowing individuals to hand-pick the statistics needed.

Despite many companies having difficulty in regards to the correlation of specific demands and specific feedback, the specialist explained that many CRM and small business management software users are adding information to transactional data to enhance their databases.

Mr Kolsky still asserts that a database owned by the company itself will always be the greatest asset, though it does not have any resale value to most people.

He said of the information desired by businesses: "It is up to each organisation to figure out how to capture it, analyse it and make it work."

Recently, Multichannel Merchant revealed that the cost of CRM is much cheaper than holding it on-site, with virtualised programs being the future of business.

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