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Why choose a Single Customer View over a Data Warehouse?
by Anthony Botibol, on 11/02/16 11:59
Obtaining data about your customers is easier than ever. The challenge comes when trying to make the best use of it. In order for a marketing department to effectively target the most appropriate and valuable customers, this information needs to be structured and ready for analysis.
Most organisations will use a Data Warehouse for business insight. This collects and correlates data from numerous disparate locations and company departments.
A Data Warehouse, or Big Data storage solution, is used to collect high volumes of structured and unstructured data that does not necessarily need to match to a customer, and normally falls under the remit of the IT Department. The data could be as relevant to HR, Finance, IT or any other department of an organisation as much as it is relevant for marketing. In fact the relevance for marketing is often questionable when attempting to use data mining tools to quickly extract ‘actionable’ customer data to run timely marketing campaigns.
Here are a number of key things to consider:
The Single Customer View is different because it is an initiative which focuses solely on customers and ‘structured’ data. The structured nature of the data, which always matches to an individual customer record, ensures that the data and analytics are meaningful and relevant to any customer-focused department (predominantly Marketing, Sales and Customer Service departments.)
The initiative will therefore normally sit with the Marketing department, rather than IT and is fully focused on ensuring that marketing have access to data and a trustworthy marketing database.
Benefits of a SCV include the ability to:
Whereby an organisation has a Big Data or Data Warehouse storage solution, the Single Customer View can sit alongside it and take any structured data about a customer that can then be aggregated and analysed in isolation.
While a Data Warehouse is undoubtedly valuable as a repository to store all your enterprise data and for wide-reaching business intelligence, a Single Customer View can optimise customer value, sales revenue and the customer experiences.
Whether you are a marketer getting to grips with the concept of an SCV, need to know what your organization needs to consider before building one, or want to better understand the ROI, Blue Sheep's The Ultimate Guide to Single Customer View has the answer.