Customer 360 is a term used to describe a complete and holistic view of a customer, including their demographics, behavior, website inquiries, product purchases, and customer support tickets and transaction history. This view allows organizations to understand their customers’ needs and preferences, which in turn can help them improve their marketing efforts, customer service, and overall business operations.
By having a complete and holistic view of a customer, every department in a company can have access to the same information about a customer, enabling them to provide better service, make more informed decisions, and improve overall business operations. However, achieving customer 360 can be a challenging task, and many existing data vendors & platforms are struggling to do so.
One of the main challenges in achieving customer 360 is data silos. Data silos occur when data is stored in different systems and formats, making it difficult for organizations to gain a comprehensive view of their customers. Data silos can make it challenging for organizations to understand their customers’ needs and preferences, and can impede into the ability to analyze customer data and make informed decisions.
Another challenge is data quality. In order to have a complete and accurate view of a customer, the data must be clean, consistent, and accurate. However, data quality can be poor due to errors, duplicates, and inconsistencies. This can make it difficult for organizations to gain a clear understanding of their customers and can lead to inaccurate insights and decisions.
One more challenge is data governance. The process of ensuring that data is stored and used in a compliant and consistent manner. It is a crucial aspect of achieving customer 360, but it can be difficult to implement, especially when data is stored in silos. Data governance requires organizations to establish policies, procedures, and workflows to ensure that data is stored, used, and shared in a compliant and consistent manner.
Additionally, many organizations have data stored in different platforms, different systems, different structures, and different formats, Like finance and marketing will have their own systems to look at the customers. All this makes it harder for any enterprise to collect all the data required for a customer360 view in one place, where they can access and analyze it.
Given these challenges, it’s not surprising that many existing data vendors are struggling to achieve customer 360. In order to overcome these challenges, organizations must take a holistic approach to data management that includes data integration, data governance, and data quality.
This includes integrating data from multiple sources into a centralized location, ensuring data quality and compliance, and providing access to the data for analysis. Utilizing a data fabric solution like SCIKIQ can help organizations overcome these challenges, providing a flexible and unified approach to data management, and making it easier to achieve customer 360.
so to say achieving customer 360 is a challenging task that requires organizations to overcome the barriers of data silos, data quality, and data governance. Existing data vendors are struggling to achieve this due to their specialties in only one of the data domains. However, by taking a holistic approach to data management and utilizing a data fabric solution like SCIKIQ, organizations can effectively integrate, govern, and analyze their data to get a complete view of the customer.
Data fabric can play a crucial role in helping organizations achieve customer 360 by providing a unified, flexible data management architecture.
One of the key benefits of data fabric is that it breaks down data silos by providing a centralized location for storing and managing data. This centralized repository can include data from multiple sources, such as social media engagements, website visits, transaction history, various customer-facing platforms like CRM, customer services, and more providing organizations with a complete view of their customers. By having all the data in one place, organizations can more easily understand their customers’ needs and preferences, and make better-informed decisions for business and for customers.
Data fabric allows organizations to establish policies, procedures, workflows, data quality, and compliance to ensure that data is stored, used, and shared in a compliant and consistent manner. This is important for achieving customer 360 as accurate, consistent, and compliant data is a critical component to have a comprehensive view of the customer.
Data Fabric also enables data to be easily accessible to various systems, users, and applications, which allows for easy data discovery and sharing. This is important for customer 360 as it means that organizations can share data across different departments and systems, ensuring that everyone has access to the same information.
Moreover, data fabric allows for automated data integration and data management, reducing the time and resources required to integrate and manage data, increasing data quality, and improving data governance.
Lastly, data fabric provides a way to aggregate, enrich, harmonize, and cleanse data. It allows for creating a 360-degree view of the customer, product, process, or supply chain. This holistic view allows organizations to make better-informed decisions and improve their ability to understand customer needs and preferences.
SCIKIQ is a powerful tool for achieving customer 360 by providing a unified, flexible data management architecture that is fast, robust, and scalable.