Exploring the concept of Customer Relationship Management: emphasizing social

Abstract: Today the amount of data available is huge and the growth is even vaster. Data containing all sorts of information is easy to acquire and available for all who seeks it. The age of Information Technology has produced many potent techniques to collect and compile data; however the next decennia may produce technologies that better help us understand how to transform this data into action. This paper seeks to analyze and explain the importance for firms to use a Customer Relationship Management system that combines all consumer information available. The authors argue that combining consumer information with increased analytical capabilities could increase the number of decisions based on rationality. Firms need to increase internal cooperation between departments, and put an end to departments working as separate units.