A system or strategy used by businesses to manage and analyze customer interactions and data throughout the customer lifecycle. The primary goal of CRM is to improve business relationships with customers, enhance customer retention, and drive sales growth. CRM systems compile data from various communication channels, including a company's website, phone, email, live chat, marketing materials, and social media.

Key functions of a CRM system include:

1. Data Management: Collecting and storing customer information, such as contact details, purchase history, and communication records, in a centralized database.
2. Sales Management: Tracking sales opportunities, managing the sales pipeline, and automating sales tasks to increase efficiency and effectiveness.
3. Marketing Automation: Facilitating targeted marketing campaigns, segmenting customer lists, and analyzing campaign performance to improve marketing strategies.
4. Customer Support: Providing tools for managing customer service interactions, tracking support issues, and ensuring timely resolutions.

Analytics and Reporting: Offering insights through reports and dashboards to help businesses understand customer behavior, measure performance, and make data-driven decisions.