ELI5: Explain Like I'm 5

Enterprise relationship management

Enterprise Relationship Management (ERM) is like having a special grown-up game where big companies and businesses get to keep track of all the grown-up people who like their products or services.

Just like how you collect stickers or cards with your favorite characters on them, big companies collect information about grown-up people who like their products or services. They do this by asking these people questions or by watching what they do online.

Once they have collected information about a lot of people, they use special tools or software to organize all this information. This helps them understand what these people like and also what makes them unhappy.

Finally, by knowing what people like and need, big companies can make changes to their products or services to make them even better. This way, more people will like them and want to use them, which makes the company more successful.

So, ERM is like a grown-up way to collect and organize information about people who like certain products or services. This helps big companies make better decisions about what to do next to make their products or services better for everyone to enjoy.