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Customer Data: Strategic Assets For Growth And Survival
Ovum, Nov 2009, Pages: 15
Successful enterprises make it their business to know their customers. This is essential to building loyalty, getting repeat sales and gaining a better understanding of what the target market really needs. Unfortunately, in most enterprises this is easier said than done. Most organizations maintain multiple overlapping and often conflicting stores of customer records and often don’t know what data they have, how good it is, where it is, or how to get to it. M&A exacerbates the problem.
The key to knowing and understanding customers is building an up-to-date, comprehensive view covering all touch points and interaction history, so the right users are assured of getting the right information on a customer at the right time. That requires a commitment by people to collaborate, the implementation of consistent data governance processes, and the deployment of technology that helps enterprises to consistently implement their best practices for managing customer data.
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