The challenges which face us as a result of increasing digitisation are formidable. Digital newcomers are already making inroads into the traditional market areas of established companies and the pressure for change to safeguard their business is increasing at a breathtaking pace. The prerequisite for digital success stories is a precise, up-to-date and complete data basis - the Ground Truth as a solid foundation for your digital future.
Cloud, Social Media, Mobile, Big Data and the Internet of Things affect each company in its strategy, structure, culture and its processes. These topics do not leave sectors cold - not least, because the customer comes clearly into focus. In the digital age, customers always expect to be able to buy anywhere and anytime as well as a high service level and individualised information that is widely available in real time. However, this is only possible if companies address their prospects over as many contact points as possible and aggregate the gained knowledge on the preferences and behaviour to a maximum 360° Customer View.
Prospective customers are no longer dependent on face-to-face advice in all aspects of products and solutions in the digital world. Quite the opposite: they find it annoying when they constantly receive sales offers. Today's prospects independently obtain the information they require from very different touchpoints and from very different sources. In this respect, competitors are usually only a mouse click away. In the last analysis, if someone is prepared to buy a certain product or a solution, they have already gone through a substantial part of the conventional sales cycle without ever having said a word to a sales representative. The buying process therefore begins a long time before the actual seller hears anything about it.
How do successful digitised companies deal with these changes? The solution is an information management system that connects different applications and processes. This ,process chain` begins with Predictive Analytics forecasts, by means of which future trends can be predicted and campaigns systematically planned and implemented. The results of the implemented campaigns are subsequently transferred to comprehensive business intelligence analyses. This BI data is in turn included in the design and planning of future campaigns and also serves as the basis for strategic business decisions - and so the process chain starts again from the beginning. So much for the theory. What does it look like in practice?
The devil is in the detail. Predictive analytics forecasts are prepared on the basis of in-house, i.e. historical data. As a rule, the requisite algorithms are 'trained' with approx. 10% of this data. Only when the quality of this 'training data' is perfect, i.e. unambiguous and correct, does the algorithm 'learn' the right things and make the right forecast. If this is not the case, they trigger a dangerous chain reaction which has disastrous consequences for the company: unmaintained data (duplicate data records, incorrect addresses, etc.) results in inaccurate analyses, failed campaigns and, ultimately, incorrect business decisions. The company requires the Ground Truth to prevent this chain reaction.
The Ground Truth is a process method, which ensures that the data underlying the analysis is up-to-date, precise, complete and extremely well maintained. The path to the "Ground Truth" goes through five steps: the various data sources are integrated in a central repository - the Smart Customer MDM - in the first step. The result is the so called "Golden Record", i.e. the master data record, in which all the data of identical persons is merged. The "Golden Profile" of the customer is then created. This is enriched with interaction and transaction data and the matching of the transformation source ID to the Golden Record ID. Only then is a complete, precise and up-to-date 360° view of the customer possible. And this is the only way that the company can obtain the correct basis for the predictive analytics process and implement successful marketing campaigns and business intelligence analyses. Ground Truth - the essential basis and therefore one of the central success factors for revenue growth and new digital business models.
Uniserv Smart Customer MDM is the professional solution behind the Ground Truth. By means of our lean, tailor-made Master Data Management concept, you can form Golden Profiles and therefore have all the information about a customer, which is available across the company immediately at hand. The Golden Profiles are administered in a central repository. The data quality tools ensure up-to-date, unambiguous and reliable customer data. Identity resolution assigns similar records from different sources to a single Golden Profile. Data silos are broken up, fragmented data is a thing of the past. In addition, interaction and transaction data are enriched. So you always know which customer has purchased which product on which channel. Based on a complete customer history and the known user behaviour you are then able to make individual offers and address to the right people at the right time. Create your digital future with the Ground Truth!
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Ground Truth from Uniserv as well as the associated logos are trademarks or registered trademarks of Uniserv GmbH in Germany and other countries. All other product and service names mentioned are trademarks of the respective companies.
Ground Truth is the foundation for revenue growth and new business models against the background of digital transformation, e.g. for the optimisation of sales and marketing activities, campaign management, blacklist matching, Compliance or also Customer Relationship Management. The Golden Profile of each customer is at the heart of this process, i.e. the Golden Record enhanced with interaction and transformation data (transaction data). The Ground Truth means that decision-makers no longer act in a vacuum but have grip on reality for decision-making.