Unveiling the Power of Customer Data

By CIOReview | Monday, June 11, 2018

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A decade ago, organizations were always uncertain of the product’s success in the market. But in today’s data-centric world, organizations can better predict the future of their product based on the market trends. This customer data can be effectively obtained by harnessing the potential of data analytics software or partnering with third-party organizations focused on data analytics. However, there are many companies still with their outdated data, who fail to recognize the potential behind it.

If these organizations come forward and deploy software like ERP or CRM they can avail detailed information of each and every order of the customer provided with the cost and product descriptions. Additionally, with these valuable data and insights, an organization can add suggestions or send text messages or e-mails based on customer’s preferences. For instance, in an online shopping app, organizations can make suggestions with customer’s constant purchase of a particular product or brand. This approach promotes an optimum experience providing a meaningful journey for both the organization and the customer. Apart from using these software, organizations can also simply assist third-parties to acquire customer data. These third parties use online tracking, cookie-based tracking, public records and offline transactions like loyalty cards for obtaining customer data. Moreover, it’s affordable as they charge only a few thousands per customer profiles.