Bad customer data can be likened to a bad social media gaffe where a brand gets something wrong and all hell breaks loose. The immediacy is felt and negative brand equity is generated. But typical to Twitter, it is instantaneous—and in most cases, the outrage is short-lived. Often, it’s because a business isn’t quite aware of what audiences it is catering to and what they may or may not be interested in hearing.
Digital transformation is the modern-day Gold Rush. To reach new markets and grow revenue, business leaders across industries are flocking to embrace new technology and digital processes. And it’s no wonder why! The digital economy offers a myriad of benefits to businesses and consumers alike. While consumers can expect mobile-optimized and personalized experiences, businesses will appreciate having better insight for decision-making and product innovation. However, digital transformation also brings its own set of challenges, from external regulatory hurdles to internal technology limitations.
Cleaning your house is always a good idea. I especially love to clean on rainy days, like the one we’re having in Boston today. It gives you the chance to get rid of and organize all that clutter. Taking the opportunity to enhance your space by getting rid of the junk and allowing the important details to shine will bring a sense of clarity. The same goes for your data! Every data set could use a little sprucing up. Rather than waiting for a rainy day, it’s even better to give your data a regular dose of cleansing. After cleaning up the data in your system, you are open to a whole new world of cost savings and enhanced customer experience.
One of the biggest challenges in today’s age is staying in tune with the constantly changing market and needs of our customers. From Facebook to Instagram, Boomerang, or Snapchat… what customers are interested in, who they are, and what they care about is always in flux. How do you stay agile in a shifting world? You must constantly be striving to understand your customer and what your company’s ideal customer persona looks like. Aligning on your ideal customer, in conjunction with understanding your prospects and customer database, will allow you to target and market to them in the best way possible.
This year’s AAMVA International Conference (AIC) was held in the “City of Brotherly Love”—Philadelphia, Pennsylvania. As it does each year, the AIC attracted representatives from across the North America who work in the public sector, particularly those that work in the motor vehicle space. The conference, which ran from August 21 – 23, covered many of the most pressing topics currently facing those in the motor vehicle space. There is a major emphasis on improving the customer experience and reducing wait times at department of motor vehicle branches in regions across America. One of the major areas of emphasis comes around the regulations for REAL ID.
Across nearly every industry, data has become a key driver for critical business initiatives. At the same time, data will only add value to your business when it is trustworthy and actionable. That means there should be a robust and reliable data quality management strategy in place that aligns with the needs of your entire organization. The best way to justify the need for investing in a data quality management strategy is to identify the areas in which it will benefit the business as a whole. Here are the top four reasons to invest in data quality management.
This past week I attended the Northern California Assessors Conference (NCAA) in South Lake Tahoe, CA. This conference provided an opportunity to network with county assessors across the region and understand opportunities to maximize success.
Earlier this year, I attended the Sirius Decisions 2018 Summit. For those firms seeking a framework to help them plan their digital transformation, the summit didn’t disappoint. With well over two hundred sessions, delegates could choose form a wide range of topics grouped into four main streams: account-based marketing, channel marketing, portfolio (product) management, and sales strategy and operations. The sessions included presentations from Sirius Decisions (SD) staff covering most of their 14 different frameworks, SD framework and partner technology case studies presented by their customers, and several motivational keynotes from SD management and outside speakers.
In the ever-increasing pace of today’s business environment, everyone is looking for ways to maximize the outcomes of their efforts and create more efficient processes. And more and more, organizations are looking to data to be the fuel that accelerates their business. According to our 2018 global data management benchmark report, 99 percent of businesses believe being data-driven gives their organization a competitive advantage. They believe that advantage includes better insight for decision making (57%), more efficient business practices (57%), and better customer relationships (56%). The thing is, though, that being data-driven only provides these benefits when the data driving the strategy is high-quality and accurate.
Business leaders today are using data to power all sorts of initiatives, from uncovering revenue opportunities to complying with regulations. More and more, data is becoming a mission-critical asset that many argue should be tracked on a balance sheet. In fact, nearly all of the C-level executives in our 2018 global data management benchmark report (95%) believe that data is an integral part of forming their business strategy—a sentiment that has increased by 15 percent over the prior year.