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
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