In the digital age, data enrichment has become an indispensable part of customer management. Companies face the challenge of not only collecting their customer data, but also enriching it in a way that enables targeted communication and personalised marketing campaigns.
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In a world where data is the new currency, the quality of information can determine a crucial advantage. Imagine entering a scheduled meeting with a potential client only to discover that the contact details are inaccurate and key information is missing. This situation can not only waste time but also valuable resources and jeopardize your credibility.
Despite advancing technological developments and a growing awareness of data management, many companies have still not fully realized that high data quality is an essential prerequisite for effective customer relationship management.
TOLERANT Software Managing Director Stefan Sedlacek was interviewed by the online magazine WebsitePlanet.
The half-life of customer data is seven years on average. This means that after seven years, half of the data is already out of date, for example because customers have moved house, got married or taken out a new telephone contract. The data quality tools TL Match, TL Post, TL Name, TL Move and TL Bank from TOLERANT Software considerably increase the half-life of customer data.
Migrating data from multiple sources into a new information management system is a complex and often headache-inducing undertaking. Data migration is usually necessary to keep pace with technological advances and industry standards, but it requires a great deal of effort. Data from different storage areas – both on-premises and in the cloud – must be evaluated, analyzed, cleansed and organized before it can be combined and matched.
Data quality products from TOLERANT Software tap the full potential of CRM systems, making AI and business intelligence applications possible in the first place.
The migration of on-prem data to the cloud offers the opportunity to systematically cleanse and reprocess data and, if necessary, enrich it with external data. Therefore, it is important to plan the data migration at an early stage and to execute it properly. This way, legacy data can be sorted out in a targeted manner and all important data can be completely merged.
BI-Spektrum spoke with Jörg Vogler, CEO of TOLERANT Software, about how data can be collected and maintained qualitatively so that it can be used well for analytics and artificial intelligence, as well as about what some US companies have ahead of the local ones.
The latest extension of TOLERANT Post helps companies with location planning, target group and potential analysis. To do this, TOLERANT Post uses CAMEO data that uniquely classifies consumers based on their stage of life and wealth, across Europe.
The digital transformation is in full swing. It brings great benefits, but also challenges. More and more data is being collected, processed and used for analysis. To ensure that these huge datasets actually provide useful information for your company, the quality of the data is a crucial success factor.
Contact us.
We will be happy to help you with your data quality issues.
TOLERANT Software
GmbH & Co. KG
Büchsenstr. 26
70174 Stuttgart, Germany
Phone: +49 711 400 4250
Fax number: +49 711 400 425 01
info@tolerant-software.de
www.tolerant-software.de