Customer information management is the practice of collating, categorizing and consolidating information available internally and externally about customers and thereafter making it available to various teams who interact with customers or provide intelligence to improve customer loyalty and experience. Teams who are front-facing feel empowered and can make value-added suggestions and offers – customers in turn feel recognize and are more loyal.
Barriers in creating a good CIM:
- Data is present in silos in different formats and fields
- Data is present in structured and unstructured form
- Data is outdated, imprecise, incomplete and non-standard
- Consolidation at customer level is absent – one customer’s multiple transactions remain hidden
- Emails and call centre logs are in unstructured form
- Information about each customer is sparse – third party enrichment may be required
CIM impacts the following processes:
- Customer relation management
- Customer experience management
- Customer segmentation
- Omni-channel experience management
A poor CIM system can have serious consequences, ranging from unsuccessful deliveries to failure to spotting a bad credit risk at an early stage.
How can Insight’s solutions help Customer Information Management?
Insight’s Customer Information Management Suite of solutions can help, analyse, cleanse, and match customer, product, supplier, and material data including unstructured text information – for smarter decision making, greater speed and greater profitability.
Insight can help you in building a sound CIM by the following ways:
- Join and transform data present in silos to create a single data mart using ETLite
- Improve customer data quality by parsing, standardising, enriching and validating data anywhere in the enterprise using Scrubbix
- Enrich existing data with geospatial and reference data enhancements using PinPoyntz
- Reduce duplicate data by matching and consolidating data at various levels like individuals, households and legal entities using Deduplix
- Profiling unstructured information in form of complaints and reviews using our Text Analytics tools
- Creating a single golden record for each customer