Insights and Solutions
Over the last few decades, businesses have collected plenty of valuable customer data. However, the full potential of these datasets is not always realised.
When the data is stored on-premise, in siloed systems and without offering a single source of truth, it can be cumbersome and time-consuming to locate and validate the latest datasets, resulting in questionable reporting accuracy.
At the dawn of a new competitive era built upon an open data economy–with open banking and open energy gaining traction and telecommunications soon to follow–it is more critical than ever for organisations to understand and anticipate consumer behaviour using the power of predictive analytics, and to use these to create personalised solutions.
Needless to say, understanding your customers’ needs results in a vastly superior customer experience which boosts customer retention and ultimately generates business value.
However, before organisations can begin to turn the insights from their customer data into real business value, they first need greater agility when it comes to accessing and analysing customer data.
This means moving away from disparate and departmental reporting in favour of interactive dashboards to collect, analyse and visualise insights and a single-view customer representation to quickly interpret a customer’s history i.e. past complaints, transaction records, churn risk history, etc.. All of which enables customers’ needs to be met proactively and quickly.