About the report
By conducting a survey among a wide variety of companies, we set out to find out more about how businesses today view, value and manage their customer data. The survey was 100% anonymous, and responses were mainly collected from companies in banking, insurance, financial services, technology and retail. A total of 23 questions were asked in relation to firmographics (3) and customer data management (20).
In the report we have highlighted some of the most significant findings.
Summary - in short
The importance of customer data quality
Businesses are heavily reliant on high-quality customer data, in order to be successful. Having bad data in any way reduces business performance by increasing costs and risk, but most of all influencing decisions in a negative way, by providing incomplete or incorrect data as a basis for decision-making.
Handing over customer data to third parties & GDPR
GDPR is a ”hot potato” in customer data management. As companies are collecting an increasing amount of customer data, handling data in safe and secure ways, as well as having the adequate processes and routines in place, gets increasingly important.
The main challenge in CDM
With the importance of data quality and up-to-date accuracy over time established early on in our survey, it is no surprise that the most prominent challenge in our survey turned out to be; keeping data up to date.
Click on the report below to see the full results, insights and conclusions.