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Hoarding Information Isn't Always the Path to Profits



By Allan Alter


  Table of Contents:
  1. Hoarding Information Isn't Always the Path to Profits
  2. ' More IT spending is '
  3. ' Companies are still suffering '

November 2006 Customer Strategies Survey: The ability to collect customer data still outstrips the ability to put the data to work.

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Hoarding Information Isn't Always the Path to Profits - ' Companies are still suffering '


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from data indigestion.">
Finding 4: Companies are still suffering from data indigestion. Customer data is growing by 51 percent, but companies struggle to use it all.
There's been little progress in analyzing and using data: about the same percentage of customer data is used as last year. This difficulty with analyzing data is also what keeps companies from obtaining and then taking advantage a single view of the customer. An exception is data from customer loyalty programs: about 70 percent of this data is put to good use.



Research Guide:

  • Finding 1: The hunt is on for new customers; most companies continue to favor growth over cost-cutting.
  • Finding 2: Nine out of 10 companies sell on the Web, but only half say the Internet is among their most profitable channels.
  • Finding 3: More IT spending is directed to customers.
  • Finding 4: Companies are still suffering from data indigestion.

    Upcoming results from the Customer Strategies survey:

  • Nov. 15: Sales and marketing technologies are often not deployed and frequently fall short when they are.
  • Nov. 22: Customer service products linger despite IT support.

    Read our previous surveys on customer strategies and related topics:

  • July 2005 Customer Strategies Survey: Can You Profit as Customers Get Smarter?
  • October 2005 Business Intelligence Survey: Business Intelligence Is Valuable, but Falls Short of Its Potential
  • August 2004 CRM Survey: Will Old Problems Sink New Users?
  • September 2003 E-Business Survey: Is E-Business Finally Starting to Deliver?

    Related expert voices:

  • CK Prahalad & Venkat Ramaswamy on CRM
  • Gary Hamel on Thinking about the Customer

    Related case studies:

  • Loyalty Programs: How 4 Companies Foster Loyalty
  • Continental Airline's Tech Strategy Takes Off
  • Morgan Stanley: Trading Sideways
  • Pipemaker Learns a Hard Lesson in Customer Profitability
  • Coldwater Creek: Using One Retail Channel to Fund Another
  • Harrah's Entertainment Inc.: Make Every Customer More Profitable

    Related trend stories:

  • Megachurch Megatech: Using IT to Spread the Word
  • Individual Knowledge Doesn't Always Help Understand Customer Groups
  • Cross-Selling at Cross-Purposes

     
     
    >>> More Research Articles          >>> More By Allan Alter
     


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