But how do you know how to look at your data to find your most valuable customers and optimize your business to serve them well? After all, your customer data is full of possible connections, insights, and game-changing decision drivers, but typically, the way the data sets are organized can actually stand in your way. Most organizations’ data has evolved, over years or even decades, from a rich mix of structured and unstructured data sources, in various formats, so masses of valuable data exists…but using it well is another matter.
Data sources may not be adequate. Data capture is often inconsistent from one purchase point or platform to another. Some data sources may not contain all the types of information your analysts need to succeed. Data sources might come with gaps or ambiguities.
Data sources are often disconnected. Analysis is often based on subsets of your data or limited data sources. Sometimes this is an access problem. Your analysts find themselves only using easily accessed data, leaving valuable information on the table. Sometimes it’s a problem of joining disparate data sources in different formats.
Often, data analysis takes too long. Sometimes it’s simply an issue of size, that data sources are far too massive to be effectively combined without slowdowns. Sometimes it’s an issue of access, that critical data sets aren’t easy to get. This problem results in insights bubbling up too late; they would have been useful a week or a day ago, but now can’t be applied for best effect.