... but without the facts, you cant get to the truth. According to a recent global survey funded by Computer Sciences Corp., IBM and D&B, few marketers really have the focus on deriving truths from customer data
Among the other findings of the survey:
- Forty-five percent of respondents rate the effectiveness of customer relationship management systems as deficient or needing work.
- Just 15% rate themselves as extremely good or effective at integrating disparate customer data sources and repositories.
- Only 6% say they have excellent knowledge of their customers when it comes to demographic, behavioral, psychographic and transactional data.
- More than 31% have churn rates above 10%, and 32% report having customer turnover of 5% to 10%.
- Thirty-one percent say they don't do data mining at all, and 63% say they are doing only moderate levels of data mining for intelligence and insight.