Knowledge management and Customer Relationship Management: analysis of processes and tools, and the way firms can take advantage of knowledge management to successfully implement a Customer Relationship Strategy

Abstract

Since the digital evolution occurred, the amount of data that firms can collect and store increased exponentially. Firms discovered how to take advantage of data for multiple uses, such as performance improvement, or to gain competitive advantage and improve or reduce unnecessary operations within the organization. Given the importance of data, knowledge management processes and techniques spread over companies. Similarly, firms learnt the importance to collect information on customers in order to improve the relationships, thus adopting a customer relationship management strategy. In this paper, the tools and strategy of the Knowledge Management and Customer Relationship Management processes will be analyzed, finding points in common, and we will see how Knowledge Management can be an important tool to implement successful Customer Relationship Management practices