It’s time to take a good look at your data


Following the excess of transactions, spending, borrowing and customer sign ups over the festive period, it’s now time to take a good look at your data and get it back in good health and keep it that way in 2025 and beyond.

With the sheer volume of new data flowing into businesses over the last few months it can be hard to know where to begin to get it fit for purpose, make sense of it all and get it working for your business in a structured way.

    • On Average Households spend 29% more during December[1]
    • Brits spent £1.12bn online during Black Friday week this year, up 7.2% on 2023[2]

You will have had a combination of new and existing customers consuming your services more than usual, whether it be purchasing, borrowing or just interacting with your business. These interactions will have created a multitude of new data points that you need to review, cleanse where necessary, and bring together into a cohesive single customer view.

The benefits of having healthy data and a robust maintained SCV routine include:

Deeper customer understanding

Gain a complete view of your customers and the data associated with them to gain better insights and drive smarter business decisions.

Better customer experience

Personalize interactions to boost satisfaction and loyalty.

Increased efficiency

Streamline data management processes and access to accurate customer level data, improving operational efficiency.

Improved marketing ROI

Run more targeted and effective marketing campaigns.

Stronger customer relationships

Foster consistent and meaningful engagement across all touchpoints by having a view of all your customers data in one place.

Quality data for GenAI

Having a structured and customer level view of your data creates a solid foundation for training your GenAI models.

There are several steps to planning your ongoing routine that will set you up for success to take advantage of this new data. This will allow you to align it to your existing data, match it to each customer and achieve your data fitness goals.

  1. Define objectives: Clearly outline your goals and what you hope to achieve.
  2. Assess current data: Evaluate your existing data landscape to identify sources, quality, and gaps.
  3. Develop a data strategy: Plan for data collection, integration, cleansing, and management.
  4. Select tools and technologies: Choose the right software and tools for data integration, analysis and building/maintaining your SCV.
  5. Data quality and integration: Combine data from various sources, check the quality and put validation in place to maintain it.
  6. Build the Single Customer View: Develop unified customer profiles and ensure they’re accessible to all relevant stakeholders.
  7. Test and validate: Conduct thorough testing to ensure the SCV meets your objectives and is error-free.
  8. Deploy and monitor: Implement the SCV in the live environment and continuously update, maintain and monitor its performance.

By following these steps and putting in a regular routine to maintain your data, businesses can successfully get their data in to peak condition and have a tailored plan for each customer, leading to deeper insights and more personalized customer interactions.

How Experian can help

Experian Data Quality can be like a personal trainer for your data by helping you to achieve and maintain good quality and a comprehensive single customer view.

Our unique solution, that combines market leading data augmentation technology with advanced pinning capabilities will act as the central training ground for starting and maintaining your customer data health.

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Clean and standardise

Prepare data to ensure only accurate, consistent and quality inputs go into the single customer view.

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Enrich

Append reference data to provide additional insights on your customers for better results.

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Deduplicate

Identify, monitor and manage duplications for a stable data foundation to power the management of your customers.

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Automate

Ongoing maintenance of golden customer records to power customer and business strategies.

Let’s talk

Our unique solution, that combines market leading data augmentation technology with advanced pinning capabilities, will act as the central training ground for starting and maintaining your customer data health.

Please get in touch to arrange a free data health check and to find out more about how we can help.

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Post tagged in: Consumer Credit Data