In today's highly competitive environment business needs to better understand their customers their customers who are the most profitable, and how to best retain those customers. This understanding through important channels which one is CRM. CRM helps companies make sense of customer needs and helps the companies manage these relationships more intelligently and help predict the future. Such knowledge provides a crucial competitive differentiation for companies to gain market share and reduce operational cost with retaining their customers.
On the other hand the generally accepted purpose of CRM is to enable the organization to better serve its customers through the introduction of reliable processes and for interaction with those customers.
