The most successful companies of this century are those that take advantage of knowledge of their customers and market
Data, data and more data. In recent times, it has become especially necessary to save and store data. Not only for the correct operation of a company, but also because of the urgent need to optimize processes and marketing campaigns. The growing need to save data only confirms the popular Spanish saying: information is power.
Due to omnichannel, more and more points of contact with customers are being generated, and this generates a lot of data along the way. On the other hand, in companies we have increased the use of various applications and platforms that usually generate a database. This means that companies multiply data and databases, but this phenomenon also attracts problems. Because the data needs to be cleaned and related. So, if I have “So-and-so Rodriguez” who has a loyalty card, he is the same as “So-and-so Rodriguez” who buys from us through e-commerce. If I do not have this relationship created, I will not be able to know or value the customer. As we move forward in wanting to automate processes or personalize offers or content, the challenge of processing more data and more quickly, in some cases in real time, will require standardized, clean and related data.
Poor data quality leads to poor customer experience
The multiplication of unconnected data sources without a Master Data Management program is becoming more and more frequent. A study [1] of more than 500 companies on their perception of data quality revealed that on average organizations manage 19 contact databases at a time.
Ultimately, customer data management platforms for marketing departments, such as CRMs, are not capable of processing all data sources, which are often incomplete or of very low quality. In the end, we find ourselves with company departments that have fragmented or completely different knowledge of the same client and without knowing our users, our decisions run the risk of being wrong.
85% of organizations [2] report that poor quality customer contact data negatively impacts their operational toy image editing and efficiency, and in turn hinders their ability to be flexible and agile. Many companies are exceeding the volume of data that is realistically manageable, proving that more data is not always better. Without the necessary tools, resources, or strategy, too much data can impede companies’ ability to innovate and successfully deliver a unified customer experience.
Achieving a Single Customer View
Imagine if you could see your customer’s profile and have everything you need to know about that person at your fingertips. You could fit all the bits of information about a person into one piece, creating 360º knowledge.
This is what Single Customer View is all about. It is the process of collecting data from be numbers sources, processing it and comparing it until you get a single, accurate record for each customer.
More and more companies are realizing the importance of unifying all of a customer’s information into a single record, and in many cases linking all Sistem Beus Toledo Hayang Nyadiakeun to that customer to create a trusted view of that customer. Overall, over the past three years, organizations have been investing in the people, technology, and processes needed to improve their data maturity.
The results speak for themselves. 91% of companies say that improving their data quality has had a positive impact on customer experience. And those that are more proactive about data quality are more than twice as likely to exceed their goals (44% versus 19%).
