Some 79 per cent of bosses in the UK risk customer experience due to poor data quality in their customer records, with just 21 per cent stating they have confidence in the customer data they hold. This is according to research we’ve done here at DMC Software, which found that while many realise the importance that data and analytics hold in building long-lasting, meaningful relationships with clients, they are failing to make it a priority – and thus risk customer experience as a whole. What’s more, businesses are failing to store data securely, with only 43 per cent of bosses admitting to using a dedicated CRM solution for their data. Instead, businesses are turning to Excel spreadsheets, and five per cent are using paper when documenting customer data. However, more worryingly is that 11 per cent are using email software to store data, which considering the recent wave of cyberattacks – the hack on the NHS being but one example – and the continuing rise in cybercrime, the lack of regard for secure storage of sensitive data is a major concern. That’s why we applaud the General Data Protection Regulation, due to come into effect in May 2018, which is an initiative designed to strengthen data privacy and protection. It’s time for bosses to clean up their business’ act and ensure that their customer data is not only secured safely, but also provides customers with a service which is worth sharing their data for. With 2017 having been dubbed “the year of the customer” and experts estimating that by 2020 customer experience will become one of the key brand differentiators, bosses need to sit back and take stock of their current approach to customer data. More of DMC Software’s findings can be viewed in the infographic below:
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