Single Customer View
With the advances in technology in recent years, businesses today face an ever increasing set of data management issues related to items of information collected for customers and potential customers including where they live, where they work, the products or services they have purchased historically, and the products or services they may choose to purchase today.
Data streams from all areas . . . both in and outside the enterprise. From Customer Service Call Centers, Web Sites, Partnering Web Portals, Billing Departments, Manufacturing, and Delivery Vendors, data quality has emerged as a critical business issue in order to compete in this world of real-time delivery with ever increasing customer satisfaction and governmental agency compliance requirements.
The absence of a single customer view impacts the capacity for an organization to compete, grow, and prosper based upon the problems a lack thereof creates such as:
- Increase in costs for marketing, customer services, and other enterprise application implementations
- Increase in exposure risks for compliance with governmental requirements
- Decrease in effectiveness with of customer management systems
- Inconsistent view of a customer or potential customer across various enterprise departments
- Lack of synchronization of data between the various business applications within the enterprise
- Inability for management to make effective business decisions
- Loss of opportunity for up-sell and cross-sell opportunities
- Overall reduction in the Life-Time-Value of a customer
Creating a single customer view is not an inconceivable process. Successful data integration strategies have effective data quality processes as their foundation in order to lower costs, improve productivity, and maximize the rewards that can be achieved by establishing consistent, accurate, and reliable data across the enterprise. Technology of today must often be integrated with legacy systems creating additional needs for data editing, validation, and standardization of customer information in order to effectively support customer relationship management and other "data based" marketing systems.
Further, business-to-business based marketers are faced with managing data resources that potentially contain many contacts, job functions, purchase decision trees, multiple business locations, and delivery address information which in turn creates a more complex set of data quality issues over those that might be found with consumer based marketing information datasets. Data quality, data editing, and data integration solutions should be designed to recognize these foundational differences and correctly identify and manage the additional fields of associated business information in order to identify, parse, process, merge, and link with accuracy.
Effective B2B and B2C data management systems creates the greatest opportunity for success in managing existing customer relationships in combination with creating successful new customer acquisition opportunities in order to maximize revenue while minimizing expense which in turn serves to increase shareholder value to the enterprise.
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