Data is definitely expanding exponentially, but it might not be the critical situation many predict. This interesting topic came to us from Gigabit in their article, “Can your customer data platform facilitate the right decisions?”
Data is very important because it enables organizations to learn more about their customers and offer them better service. So more data is better, right?
Data allows organizations to make much better decisions. But can the data platform companies are currently using facilitate the right decisions? Questions begat more questions.
It is safe to say that companies that cannot make good use of their customer data are already at a disadvantage. A recent survey shows that fewer than 10 percent of companies have a comprehensive understanding of their customers. And, only 5 percent use that data to support their business growth. Most businesses are not capitalizing on the data that they already have to understand more about their customers. Just sayin’.
Melody K. Smith
Sponsored by Data Harmony, a unit of Access Innovations, the world leader in indexing and making content findable.