"In addition, having a much more insightful and targeted relationship with a consumer greatly increases the chances of up-selling and cross-selling," Schutter
One of the key benefits of the CDH is that it helps to foster customer loyalty and retention and increase sales, says Steve Schutter, managing partner enterprise data management at Teradata.
With over 20 years experience deploying large scale, complex data solutions and working with larger retailers, Schutter
says the aims of the CDH approach have been something of a Holy Grail for some time.
"A '360° view' of the customer has been around for quite a while but certain elements have been lacking across the years, including an integrated strategy, sophisticated software solutions, and the level of analytical thinking that now exists," says Schutter
adds that the CDH approach, "enhances the effectiveness of traditional forms of marketing through improved targeting of customers and their interests, but more importantly it begins to effectively link the multiple dimensions of customer behavior and attitudes with how a consumer wants to be marketed-to.
Explaining the consequence, Schutter