The success of many business processes is linked directly to the quality of customer data. This is not only an obvious fact, but a recurring conclusion of many field studies: Incorrect, incomplete and inaccurate data will have a direct impact on your business succes rate. The symptomatology of this increase is established in inefficient marketing and sales processes, customer dissatisfaction, difficult cross- and upsell, unreliable analyses and many other disturbances in the day-to-day business of almost every organization dealing with customer, supplier and/or partner data.
In essence, it all comes down to knowing your data, in order to be able to trust your data. If you trust your data, you are definitely doing something right. So, how do you establish that trust? For this, you first have to answer a short, yet rather complex question: What is what in my database(s)? In other words: You have to identify and interpret the data you are working with .
A robust customer data identification solution intelligently interprets the details of both natural and legal persons. That process has to take account of the significance of words in a specific context, usage of company names, abbreviations, synonyms, acronyms, spelling mistakes, notation methods, standards and phonetic similarity of words. All in all, this is not a simple task; it more or less mimics the capabilities that humans show when interpreting data … Continue reading ‘Know your customer to trust your data’