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3 Data Best Practices Every Company Should Use Blog

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3 DATA BEST PRACTICES EVERY COMPANY SHOULD USE

 * by 7wData
 * June 13, 2022



The pandemic has pushed companies to conduct more business online and invest in
digital touchpoints that create a positive Consumer experience.

With the creation of expanded digital touchpoints like video, consumers have
generated volumes of data that can be used for strategic insight.

This means businesses should strive to move from "data-aware" to "data-mature,"
and figure out ways to use their first-party data to generate actionable
insights, improve decision making and enhance customer experience.

However, as Greg van den Heuvel, Precisely general manager, CES, pointed out,
organizations don’t always have the data infrastructure in place to glean
valuable insights from that data to make confident business decisions.

He added that many organizations are re-evaluating their legacy systems that
hold them back from achieving CX goals based on Consumer feedback.

“Additionally,” said van den Heuvel, “organizations are beginning to understand
that consumers will use a multitude of connected digital touchpoints within one
interaction to get and convey the information they need to. Consumers’ behaviors
during the pandemic will last long after the pandemic and it’s important for
organizations to keep up with these patterns.”

Data integration occurs when a variety of data sources are blended into a single
database, offering users of that database efficient access to the information
they need. Customer Data integration provides organizations with a clear and
holistic view of behaviors and patterns.

Knowing the end consumer through data insights is critical to effectively
communicating with consumers in a personalized and interactive manner.

“While collecting significant amounts of data might not be much of a challenge
in the modern world, properly integrating that data remains difficult,” van den
Heuvel said. “The good news is that according to recent research, the vast
majority of CX leaders say they have, or they plan to invest in, data
integration, data integrity or data enrichment technologies.”

He added that businesses must have a framework that allows siloed data to talk
to each other.

“Whether it’s data that’s stored in multiple clouds, or transactions that are
made through a mainframe, it’s important that a business can bring all the data
together into a single database to have a clear and holistic view of behaviors
and patterns,” he said.

Koushik Pal, chief data scientist at Lynk, said that beyond the holistic view,
what is more important is to figure out how to organize and use data properly,
because only then does it enable better information sharing among different
units.

“It helps the sales team to understand customers better and focus on
cross-selling and upselling opportunities,” said Pal. “It helps the CS team to
better understand the customer journey and provide better customer service.”

Further, it helps the marketing team define strategies for revenue generation
and build a better experience and it helps data and operations teams maintain
data quality and real-time data collection and enrichment.

“There are a lot of reasons why it makes sense for businesses to invest in CDI,”
Pal said.

Related Article: How to Prepare Data for Ingestion and Integration

Data enrichment provides a layer of understanding and gives a company’s own data
context within the real world — and a good data integrity strategy has
enrichment built in as a pillar.

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