The importance of data quality for CRM: Creating a single customer view
Effective CRM demands the creation of a single, complete, accurate view of customer information that ideally captures all interactions and transactions associated with the customer. Competitive companies leverage single, trusted views of customers to drive improvements in product positioning, customer service and support, and customer retention and lifetime value. In today’s connected world,
customer information degrades rapidly. Enterprises require a data quality solution to rapidly profile and discover data anomalies and issues, correct and standardize all types of data, and maintain data accuracy and consistency in real time.
Customer Data Challenges
Many large enterprises have spent significant time and money implementing CRM systems, yet struggle to achieve the elusive "single customer view" they expected. The complexities of handling customer data from multiple sources prove much harder to resolve than many companies anticipate. This is due to the difficulties of pulling data from multiple source systems, defining and coordinating complex workflows, and managing roles and responsibilities across sales, marketing, and service organizations. To further complicate matters, as business needs evolve over time, all these activities must be coordinated with back-end systems to maintain information consistency and relevance. It is this need for coordination of information across lines of business, systems, and functional areas that can represent barriers that impede the creation of an accurate, consolidated customer view.
Please find more information about the importance of data quality for CRM in this white paper.
Harte-Hanks Trillium Software