Addressing clients with the right data often means the difference between making a profit and not making a profit. Working with data quality experts has made me ever more consious of the value personal data represents for people. In this respect names are especially intriguing to me, as owners appear to identify with their name a lot. So I decided to do a little research and determine if people really are what their name tells you. Can nomen indeed become omen?
Your parents probably gave a lot of thought to the name they once gave you, and as it turns out they were right to do so! Research tells us a name can do wonders for its owner, as well as a lot of damage for that matter. Let’s have a look at some remarkable results.
Peter for President!
Recent studies show that in the US a student called Fred is more likely to fail his exam than a student who just happened to be named Andrew: people tend to indentify with their name and, in general, have a positive feeling about letters that correspond with their initials. Consequently Fred is far more likely to settle for a meager F, while Andrew will have an extra motive to strive for an A. Continue reading ‘Has your name ever hurt you? – when nomen becomes omen’
One of the first things I will start working on this year is a paper on First Time Right. Naturally, my colleagues and I had discussed the content of such a paper before, but during my Christmas holiday I figured out what the line of thought for the paper should be. Next to the definition and the importance of the priciple and the approach in data quality solutions, I think that First Time Right is definitely about the business value and the advantages for the customers.
Let me give you a short preview:
Customer data plays a crucial role in the value chain of any business infrastructure. Whether purchasing, production, distribution, marketing, sales or service is concerned, the availability and the quality of your customer data is of great importance to these processes. A few examples? Continue reading ‘First Time Right – The customer perspective’
Every year when autumn comes the assistants of the sales department get a little nervous. They know what will happen in short term. It’s almost Christmas and the selections of contacts to receive a Christmas card have to be made.
Every year it’s the same. First the selections for every account manager are made and they will have to check manually if these are correct. This year will be the same as ever, which means that:
- relevant companies and contacts are missing
- new companies and contact persons will be added
- contact persons will be deleted
- contact persons will be transferred to their new company
- addresses appear to be not up-to-date Continue reading ‘The value of Christmas cards’
A major bank in Dongguan (China) refused a potential customer because his name is Li Jun. Apparently, there were already over 300 bank accounts assigned to the name Li Jun. Not that this particular Li Jun was responsible for opening all these accounts, there were just too many men with exactly the same name. The bank states that the refusal is nothing personal, since nobody with the name Li Jun will be accepted as customer in the near future….. In the meanttime, Li Jun is taking legal action against the bank. Continue reading ‘Your name is too “common”….’
The more a company knows about its customer’s wishes, needs and habits and the more that company is able to tailor its proposition accordingly, the greater the value it will eventually provide for its customers. We all know that there are countless examples where defective, fragmented, or just plain poor customer data cause unnecessary costs, decrease in revenue, employee dissatisfaction or frustation, damage of the corporate image and many other unsdesirable or painful consequences.
Customer data quality and integration problems impact every area of the value chain of organisations. Far too often companies have a multiple view of their customers. Customer Data Integration (or MDM for Customer Data) is the key to providing companies with a single view of their customer. Continue reading ‘The “miracle” of customer data integration’
For marketeers it is a daily struggle. Where are my customers, what do they like, how can I reach them? Building a single view of the customer requires knowing a fair bit about them.
Ideally you want to know more then the data points your organisation is able to collect like address, order history and phone number (and please let those be accurate). What would really help effective marketing is to know your customer’s contact preferences, social demographics, financial health, social network, employment, daily commute, etc. etc.
Keeping your data accurate with people moving, dying and changing jobs all the time is difficult enough as it is. Keeping abreast of your customers social data seems virually impossible. Has anyone experimented with collecting social network data to do this?