A framework for Selecting Business Intelligence and Customer Relationship Management Functionalities for Webshop Fashion Startups

Abstract

This master thesis investigates the benefits of implementing business intelligence (BI) and customer relationship management (CRM) tools in fashion startup companies. Basically, startup companies don't have a huge number of solid properties and funds. Therefore, the efficient delivery of services of the product is one of the essential key business priorities for them. Traditionally, in the retail industry, promoting and selling products and services, including market analysis and sales operations, are the main strategies of systematic customer relationship management and the core touchpoints to the client (H. Li, 2005). This study aims to create a framework by integrating the functionality of the BI and CRM tools in the area of the start-up retail industry. By identifying the needs of startup companies in sales and marketing, the presented framework helps webshop startups in the fashion industry access and efficiently utilize BI and CRM technologies, thereby playing a vital role in ensuring further success. In brief, analytical CRM and BI tools are used to help analyze customer data and create more customer relationships to improve sales (A. Khan et al., 2012a). In start-up firms, it is critical that any tools, infrastructure, services, or technology are compatible with the company's current values. The new framework, coupled with the rapidly developing character of startup companies, helps managers to analyze data at the lowest investment (Trindade Venturini et al., 2015). The discussion part of master thesis presents the main needs of the selected startups elicited during the interviews. In addition, the functionalities achieved by combining BI and CRM tools are explained.