Businesses today are awash in more data than ever before.
Virtually every industry sector - from financial services and government offices to retail, health care and manufacturing - is witnessing a growth in data volume at exponential rates. Hidden away in these vast repositories is a gold mine of business insights, opportunities and potential success.
Data can become more transparent and usable on a regular basis; provide insights through richer and broader data sets; create narrower segmentation so that you can fashion more targeted marketing campaigns and sales techniques; and help connect the dots to discover new products and services that might otherwise be impossible even to consider.
However, tackling Big Data isn’t as simple as putting a single system or software in place and automatically reaping the results. In fact, putting all this information to work - including legacy data (which is often siloed) as well as generated unstructured data, for example by social media and video - is a daunting task.
Challenges that businesses face today
One of the most common challenges we hear from business leaders is that ‘We have substantial data but they are scattered across departments and our group companies and we don’t know where to start…and we are not getting much value out of our existing data.’
Business leaders also fear Digital Disruptors who know how to make the most out of data and technology…. didn’t they basically change the way we do business?
Focus on customer data
Companies like Facebook, Google, Netflix and Amazon understand that success lies in inspiring deep customer satisfaction that drives loyalty. They also regard customer data as their foundation of how they can deliver their unique experiences.
Data drives every decision and every customer interaction. Moreover, it’s the primary reason why these select few companies are winning.
Marketing trends and business methods/models may change; however, business essence in the importance of knowing ‘who is our customer, and where, when, and how do they want to communicate with our business?’ remains unchanged.
Personalised customer experiences
Understanding the customer today means understanding everything about your customers, including their decision and experience journeys.
Companies need to deliver at every touchpoint and build a trusting relationship so that customers advocate for their brand or product. They need to do so in real time, too.
Modern customers move in the moment, so companies need to come up with creative ways of working to react and move in real time with the customer.
The digitization of the customer decision journey has made it so much easier for people to research and buy different products. At the same time, that trend has unlocked an unprecedented degree of insight into what people really want. Creating those relevant communications, truly personal connections, and messages that clearly convey a brand’s value is what will differentiate excellence in marketing from the undistinguished.
Add to this the fact that disruptive technologies such as Artificial Intelligence (i.e. natural language processing) machine vision, etc. are maturing and becoming fundamental business tools, your customers now expect this level of experience, personalisation and convenience.
The solution: Customer Data Platform
At SoftBank, together with our innovative, industry-leading, cutting edge group company, ARM Treasure Data, we aim to assist in your company’s digitalization journey.
We believe that having a solid enterprise Customer Data Platform (CDP) is a foundation for giving you a complete 360-degree view of YOUR customer. ARM Treasure Data’s CDP manages your data so that you can focus on delivering personalised campaigns, product engagement, shopping experience, and a lot more! Contact us today to learn more and to book a free consultation.