In our current study together with our partner Omikron Data Solutions GmbH in Pforzheim, we looked at the topic of data management and the extent to which it could be a growth driver for companies, especially in the current Corona era.
Here are 5 points from my point of view that still need to be tackled in 2021
1. Online and offline platforms
The connection of online and offline platforms must be ensured. Companies from the retail sector that are only now entering online trade only see a part of their customers. Decisions on customer value cannot otherwise be mapped, so bring these systems together. With the Data Quality Server, Omikron has a tool that can help.
2. Data silos
Those who still have them in the company should begin to dissolve them in 2021 if possible. Otherwise, neither customers will be properly looked after, nor will employees be able to act adequately. Today, there are data platforms as software tools that can help to make the silo data accessible. The goal is a 360-degree view of the customer. This can be solved via a customer data platform, a CDP or a Lean MDM.
3. Data quality
Without a strategy for using the data in the company, there is no data quality. The starting point here must be the use of the data. In many cases, the wrong data is maintained in companies. For example, it makes no sense to maintain postal data if communication takes place by email. More than 80 % of the participants in the study see a need for action here. Experience shows that many databases already suffer from an error rate of 2-4 %. If you need help here, we will be happy to assist you.
4. Article master data
The next big thing in a company, because who has any idea what data and information will be needed later for the webshop, the PIM or affiliate marketing?
Standardisation is playing an increasingly important role here.
5. Data protection and data access
Data protection does not make things easier for companies, as it leads to partial access problems in companies. Departments and employees must be able to access them at any time, as long as they are system-relevant for their own operations. "Are you still searching or are you already working", could be a slogan, because employees search about 170 times a year for the data needed for the incident. Encryption, by the way, throttles the search speed. Omikron's technology can help here, too.
Any questions, we're happy to help. TP Winkel.