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Almost half of businesses striving for synthesized customer profile
For small businesses hoping to capitalize on address verification software to reach even more potential consumers, knowing your market is key.
This means being able to organize and synthesize customer information into one unified picture, rather than separating traits, demographics and characteristics into silos. However, a recent survey from DataFlux reveals that less than 20 percent of businesses have achieved a single view of customers.
Fortunately, this figure is not static. The research found that 48 percent of businesses are in the process of or plan to adopt a system or technology that will allow them to create a single view of the customer within the next 18 months.
Businesses should be warned, though - it's no easy process and will require business leaders and executives to organize, manage and delegate.
"Master data management requires the executive to apply a comprehensive framework of policies - supported with technology - that will break down the data barriers that inhibit companies from fully leveraging their assets," explains Tony Fisher, president and CEO of DataFlux. "And while MDM doesn't happen overnight, it is certainly something that needs to be part of a broader data strategy."
