Data can be defined many different ways. Depending on whom you ask and the line of business they are in, you will likely get different definitions. However, there is no denying that data is information, and businesses thrive on analyzing data in order to make faster, smarter decisions.
Although improving customer service and the customer experience is a top priority today, maintaining highly accurate and up-to-date data remains a challenge. Data is an enterprise-wide asset, but many organizations have a limited or much less than an enterprise-view of the data that ultimately drives the business. Many organizations struggle with understanding the value of data, and how to manage data and data quality initiatives, if they even have them.
That all speaks to compromised productivity. And that's an opportunity to get better.
Adopting and implementing customer-focused technologies should be at the heart of any strategy to improve the customer experience and to achieve operational efficiency. Think about how effective the business strategies of Amazon and iTunes have been. Piles of data elegantly turned into 'recommendations' and 'genius' when you order product or sync your iPod.
Now, not everyone can be Amazon or Apple, however, organizations that wish to stay ahead and succeed in making those faster, smarter decisions must adopt a forward thinking approach to data management and data quality. An effective data management strategy should be at the heart of any operational or customer-focused improvement initiative.