Getting your customer data right is key. It is the gateway to forging trusting relationships, creating new opportunities and delivering on your promises as an organisation.
Get it right and high quality customer data delivers value right across your organisation.
The operations team can service customers effectively. Sales and marketing can deliver promotions that are timely and relevant. Customer support can give a complete, personalised service. Finance can ensure accurate payments and receivables. Executive management can drive strategy based on accuracy, not guesswork.
Get it wrong and poor quality customer data can wreak havoc.
Sales and marketing can waste opportunities with poorly targeted promotions. Customer support can frustrate customers by taking longer to service queries and product requests. Operations can waste time and resources working with inaccurate data. Finance personnel can spend weeks of effort reconciling incomplete customer receivables and invoices. Executive management can create misguided strategies on defective or incomplete information.
This article provides practical advice for any company looking to eliminate waste by improving the quality of their data. To achieve this we discuss several techniques that stem from Lean Six Sigma. Although these techniques were originally conceived in sectors such as the manufacturing industry, you will find them of value in any data-driven organisation.