Abstract
Cracking the Code: Capture, Analysis & Utilization of Customer Information.
In most organizations, customer information, resides in multiple data marts,
is utilized by multiple departments and is captured through multiple channels,
Across numerous industries inclusive of both B2C and B2B models customer data
is analyzed and applied primarily for operational and for strategic decision
support, In short, it is all about revenues end customers.
Visibility & Usability Pose Challenges: Previous quantitative research
performed by Hypatia revealed that use of timely, complete, and accurate
information leads to improved customer service levels, reduced operational
costs, increased revenues, and higher customer satisfaction and retention
rates, In short, it' s all about revenues and customers-market share growth
enhanced retention rates. In fact, use of marketing science and information
analysis services has moved beyond a competitive advantage for companies that
seek to grow aggressively. It has become necessary to stay in the game.
Leading companies consistently focus on retaining customers and growing
revenues through the use of customer data for the following business functions:
- Customer service & support: Operational (64%)
- Corporate Planning: Strategic (56%)
- Product design: Strategic (48%)
- Business development/Sales: Operational (36%)
- Marketing: Operational (20%)
Gaining customer visibility across all channels, trading partners,
distributors, suppliers, end-users and stakeholders with the goal of gleaning
customer insight is a top priority for organizations. In B2C industries such
as Telecom Retail and Financial Services, companies struggle to understand and
respond to their best customers within a multi-channel environment. Leverage
of customer information requires visibility across purchasing channels,
products, and customer value metrics as well as demographic information,
transactional history and lifestyle stages, According to a line of business
leader interviewed, gModern business has to exploit customer data to grow, run
and to expand.h
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