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Most Customer Data Goes To Waste: IDC

A whopping 80% of consumer data is wasted, says IDC, and marketing and IT must work together to fix that.

If you've taken a look at the latest A2 infographic, Listening to the Voice of the Customer, you know of the disconnect between marketing's desire to become customer-centric and its ability to get there. Heck, even if you're not in marketing, you can well imagine the challenge.

Marketing has to be in charge of the customer's digital experience, yet digital life is changing at a rapid pace. While the customer voice grows ever stronger, it's coming from many directions and in many forms. Marketing's view remains largely channelized, and rather myopic as a result.

The answer is simple -- on paper, that is. "We need modern marketing and modern selling, both of which put the buyer front and center. To achieve this, you're going to need an aggressive focus on data, on content, and on the competencies of using these new digital channels," says Kathleen Schaub, vice president of IDC's CMO Advisory Service.

Ah, if only real life were so simple.

Read the rest of this article on All Analytics.

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User Rank: Ninja
12/28/2013 | 8:40:28 PM
Re: Who should own the customer experience?
@virsingh211 yes that is correct. It is always better for them to work together in order to overcome there issues.
User Rank: Ninja
12/28/2013 | 8:31:14 PM
Re: Precision and Education
This is an interesting topic. As you correctly said, the collected data has to be analyzed well. At the same time having a proper data warehouse will always help. 
User Rank: Ninja
12/23/2013 | 6:29:46 PM
Precision and Education
Perhaps if information wasn't so indiscriminately collected by vendors, you wouldn't have such a high percentage of waste.  Empowering the customer to interact on their own terms is key.  Some people will freely share certain information, while wanting other information to remain private.  Some customers are totally clueless as to what information you are collecting from them.  Education is key here.
User Rank: Strategist
12/23/2013 | 5:05:13 AM
Re: Who should own the customer experience?
Seems like it's the right time to bring CMO and CSO on the same platform. Not sure though.
User Rank: Author
12/20/2013 | 3:07:13 PM
Who should own the customer experience?
While marketing chiefs need to play a leading role in shaping customers' online experience, I agree their perspective may be, and often is, too narrow.  It's not an easy question deciding who in fact should be the chief customer experience executive. The companies/orgs that do the best job are those which breed a culture where the customer and the customer experience drive every employee's daily mission.

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