Using Customer Analytics to Succeed: The Case of Mexican SMEs

In this chapter, we present how business intelligence (BI) tools, specifically those related to social media, can help small- and medium-sized enterprises (SMEs) in Mexico to improve their customer relationship management (CRM). By collecting data from customer profiles on the needs and uses of products and services, SMEs can seek opportunities for building collaborative and lasting relationships with customers. A social media analytics framework can serve as a basis for SMEs to listen to and analyze online data and develop insights about the market that can ultimately be translated into actionable strategies. The adoption of business intelligence (BI), platforms, tools, and solutions seems to be an excellent business strategy that has become an essential component of contemporary business decision support systems. The competitiveness of small and medium enterprises (SMEs) depends on their ability to establish mechanisms that, in a continuous way, allow them to acquire shares and apply data, information, and knowledge. Big data is a crucial term for BI and analytics. Big data describes the huge volumes of data that need sophisticated methods and technologies for data management and analytics. In many economies of the world, SMEs play an active role in the economic development of the country. Social media represents a fundamental change of how information is being produced, transferred, and consumed. People around the world are creating content, which is also known as user-generated content, that may serve as a connection between organizations and consumers.