Customer data strategies get into the boardroom

Customerdata

Peppers & Rogers Group  writes:

Just over 89 percent of the 348 U.S. executives interviewed say their volume of data has increased over the past five years, and 50 percent report that their data is doubling every year. Many say they’re applying additional technologies to automate data, expanding their storage, and hiring staff or creating data departments to manage the data.

The top four goals executives in the survey say they seek include:
• improved response times,
• access to customer history,
• real-time access to data, and
• integration with enterprise systems

What’s changing, says Bob Fair, chief marketing officer at Teradata, is the profile of executives that are interested in analytics. He sees data and analytics becoming boardroom priorities. In the study, 57 percent of respondents say their decision-making has improved because of analytics, and they plan more. They’re seeing productivity and customer satisfaction increase as a result and want to make the efforts to improve their data initiatives for even greater successes across the enterprise.

For instance, Donald Carlson, senior vice president, data management and data warehousing at Bank of America, says he initiated a data stewardship program in conjunction with deploying data warehouse technology to be sure the team was making the most out of the information collected. "You can’t do it alone," he says. "You have to have friends of data around the enterprise to help you."

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