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.