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Opinions Pretending to Be Data: The Benefits of Tracking Activity in Your CRM System  

Move your company toward real, verifiable data
 
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Call Center Week - June 10 - 14, 2013 - Las Vegas - Learn More.

Despite their benefits, there are serious problems with modern CRM systems—from the hours of data entry required to the shockingly low compliance rates. These are well known by everyone who uses or builds CRM systems. But one of CRM's shortcomings hasn't been well addressed. Although these systems act as the database for their companies, much of what resides in them isn't really data. The solution is clear, but not simple—we have to move from reporting opinions to tracking activity.
 
Some of the information in CRM systems, such as customer contact points, employee lists, and historical sales numbers, can be considered data. Facts might be out of date or incorrectly entered, but they can be verified. But much of the other information (most importantly, the information surrounding new revenue opportunities) isn't data; it's just a salesperson's opinion. For example, CRM entries like the projected close date of a deal, the roles of the various contacts (and the ultimate decision-maker), the expected amount of the projected contract, and the probability of getting the contract signed are all just the opinions of the person who entered them. All these characteristics, and many more, of an opportunity are inevitably biased by the people reporting them.
 
Read the entire DestinationCRM article