Customers expect the information they provide to be available across an organisation’s departments.
When data sits in different databases or excel sheets across the business, it is practically impossible to generate analysis on an enterprise level and have a 360-degree view of the customer base. Data which is isolated, can quickly become outdated and present inaccurate information about customers. When they only have access to the data available in their department, they will miss opportunities to collaborate with other teams and reach the business’ common goal. Teams make decisions with the information they have available. Limited collaboration across the business.Therefore, when data is “silo-ed” within a team, it can present a number of negative impacts. But what is wrong with data silos?ĭata is one of the most valuable business assets. Therefore, across the business, problems such as duplicate entries, outdated or incorrect information, or data silos (collections of data, which are isolated to groups of people across the business) become apparent. With each touchpoint, new departments may be involved and this usually means that each is collecting the data, which is relevant to them. What are data silos?Ĭustomer data refers to any personal, behavioural, psychological or demographic data gathered throughout the customer journey. This leaves businesses across the globe with no choice but to embark on a digital transformation journey with customer data being at the heart of any such transformation. However, it is clear that this crisis has changed customer experiences and expectations, with 89% 1 expecting businesses to accelerate their digital initiatives and 69% 2 expecting them to transform their products and services into new digital formats. The long-term impact of COVID-19 across industries is still to be determined.
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