It hasn’t taken long for marketers to go from longing for customer data to being faced with an overwhelming amount of it. But now that they have it—and a confusing array of tools to house it—many marketers face insufficient visibility and control, compromising their ability to meet ever-rising customer expectations. New research shows that best-in-class businesses recognize that they must work toward taking back ownership of their CX data to harness the power of their customer information—in order to compete and win on customer experience.
In September 2019, Deloitte commissioned Forrester Consulting to evaluate how companies are managing their customer experience data. The research documented the challenges of complex data systems and diverse data sources and showed ways that companies are bringing data management back in-house, with the goal of improving customer experiences and satisfaction. Key findings included:
- Complex data structures affect customer experience. Faced with unconnected data from many sources, housed in tools that are often not connected, companies are challenged to understand their customers. Companies on average have 17 different technology applications leveraging customer data, with an average of 28 different data sources used for generating customer insights and engagement.
- Collecting and connecting data are key challenges. Addressing data management challenges and finding ways to take ownership of customer data are priorities for companies. Only 1 in 4 companies has an omnichannel campaign history and uses it effectively, and more than 40 percent lack real-time reporting capabilities.
- In-house data management promises visibility and control. In order to reclaim customer data, the companies surveyed are increasingly asserting more control by bringing data management capabilities in-house. In two years, data managed internally using a mix of commercial and homegrown tools will likely increase 40 percent, while fully outsourced management of data will likely fall 48 percent.
Base: 425 Customer data management decision makers at North American enterprises; Source: A commissioned study conducted by Forrester Consulting on behalf of Deloitte, September 2019
While collecting, storing, and deriving smart insights from customer data can be challenging, it’s the key to truly understanding your customers and creating enriching experiences that bring them in—and keep them around.
Dive further into our CX data research with the downloads below, and discover why taking control of customer data is one of the biggest opportunities for marketers today.