Customer Intelligence Management is Here!
Customer Intelligence Management (CIM) Systems have
emerged to address an unmet need. If
the customer is an important concept for your organization, then it des
erves a system to manage customer data and create deep customer intelligence. N
o more silos. No more fragmented insights. Customer experience depends upon having accurate and timely intelligence on each and every customer. Organizations have started to use Customer Intelligence Management to gain competitive advantage via exceptional customer experiences.
Existing IT systems and applications aren’t giving users what they need – actionable customer intelligence. Almost every organization wants to improve their customer-centric strategy. But their existing IT systems and business applications are an impediment. They fragment customer data into silos. They hoard insights. Data is inaccessible and hard to find.
Organizations struggle with systems designed to manage only structured data, to warehouse data, to master data … but they operate on a subset of information. Nearly 80% of data is unstructured. So even if you’re perfect at mastering and warehousing structured customer data, you only have 20% of what you need. New technologies can help manage the 80% of unstructured data. But software vendors only offer tools or ‘next-gen’ data platforms. They have the technical capabilities required, but they lack real functionality designed to manage and analyze customer data. That work is left to each organization. But no one has data scientists, data governance professionals or IT staff sitting on the bench. And that’s why Customer Intelligence is still an unmet need today.
If customer is an important concept, it deserves a system dedicated to it. A pre-built system. That’s exactly what Customer Intelligence Management Systems are designed to do.
Customer Intelligence Management Systems combine data management and analytics with a specific focus on customer data. They have pre-built capabilities to ingest any source of data and understand it – recognizing which data among an unstructured data set (e.g., email text, web chat transcripts, PDF documents, social media, etc.) is related to a customer. CIM synthesizes atomic data elements into a realistic likeness of the customer – attaching all relevant data to the appropriate customer. CIM builds a realistic customer 360 perspective, one fact at a time. It applies reasoning to that customer likeness and produces intelligence. It infers new data about the customer – their likely occupation, their relationship networks, who they influence and who influences them, their sentiment, their privacy concerns, and much more. CIM predicts what will happen with that customer – potential life events, churn events, and indicators they may purchase new products. Most important, Customer Intelligence Management Systems evolve. They are built to evolve. To ingest new data. To understand new data elements and how to synthesize them to customer records. Customer Intelligence Management systems continually learn and evolve to always ingest new data and produce deeper intelligence on each and every customer.
Most organizations don’t realize that this unmet need can be addressed and that deeper customer intelligence is possible. Now it is. Customer Intelligence Management systems can improve your Customer IQ. Learn more on CIM and how it can propel your customer-centric strategy to the next level.