The Importance of Data Health in Customer 360 Data

At the forefront of any good business plan is customer satisfaction. With the introduction of Customer 360 (C360), enterprises began investing in costly tools and software in hopes to leverage customer insights in their decision-making process. But what most businesses have acquired instead are unusable data lakes and headache-inducing data chaos. To address and remedy the problems faced by organisations today in the process of becoming data-driven, Talend hosted a recent data forum titled “Healthy Data Wins Customer Loyalty.” The forum began with presentations from Stu Garrow, Senior VP of Talend APAC and Daniel-Zoe Jimenez, Associate VP of IDC APAC with business and technology breakout sessions in the latter half of the forum.

The first presentation by Stu Garrow focused on “Unlocking the Promise of Customer 360.” As data adoption and customer satisfaction are driving factors of business success in this age of technology, C360 plays a critical role in enterprise modernisation. With the right implementation, Customer 360 can increase marketing efficacy, support faster sales velocity, improve customer retention, and encourage more product innovation.

To remedy the shortcomings felt by most businesses today towards their data, Talend believes in the term “Data Health.” Data heath is “how well a company’s data supports business objectives” and consists of both data quality and data trust. Stu notes that even with the benefits of data insights, organisational leaders tend to make decisions solely based on their intuition.

In order to help businesses, achieve data health, Talend’s Customer 360 solution provides organisations with three critical steps:

  • Preventative measures
    To support good C360 habits, organisations must take preventative measures by building trust in data quality, make data quality a team sport, and ensure data-driven decisions and experiences. Talend provides all of that with their single management system that generates trust scores, facilitates collaboration, and ensures a single source of data.

  • Effective treatments
    The improvement of data reliability and quality overtime is important to meet business requirements. To support that, Talend provides custom logic and ML-aided automation alongside other role-based tools.

  • Supportive culture
    With Talend, businesses can ensure the protection of customer data, promote data literacy and collaboration, and encourage the sharing of data both internally and externally. Talend also provides services in collaboration with leading technology providers to support businesses in ensuring their data health.

Daniel-Zoe Jimenez’s presentation “Capitalising on Data to Drive Customers’ Resilience in the Digital-First Era” revealed interesting insights into the pace and direction of digital acceleration across industries within the Asia Pacific region. One main concern that IDP finds within these trends is more than half of organisations that have begun digitally transforming are ill-equipped to handle challenges further down the road as they have minimal to no digital resiliency plans in the event of crises. Digital resilience isn’t simply a term to deal with the challenges that come with disruptive change but the ability to adapt those challenges into opportunities. A key area of digital resilience is customer resilience and research has shown that organisations with empathetic traits are better equipped to handle challenges and retain their customer base.

As IDC predicts that by the end of 2021, 65% of businesses across APAC will have shifted to digital-first automated digital corporations, they proposed data-driven approaches to achieve empathy at scale using technology to better customer conversations, journeys, satisfaction and experience by creating an empathetic enterprise.

Through their efforts to understand digital transformations within businesses, Daniel notes among the top hurdles of effective DX are siloes of innovation, short term tactical pans, outdated KPIs, siloed DX initiatives and limited expertise. To overcome the challenges of DX, Daniel advises enterprises to create a data framework that includes a data culture plane, data analysis plane, data control plane, data workflow plane and data infrastructure plane. Concluding that in order for businesses to fully leverage data intelligence, they must themselves follow the 5Ws and 1H while factoring in the relationships that the data may have and putting in more efforts to ensure data health.

The Business breakout session “Recover, modernise, and get ready!” consisted of Shameek Kundu, Head of Financial Services and CSO of TruEra, Abhi Toraskar, Head of Data & Analytics Platforms at Macquarie Bank and Leonard Jayamohan, Director of Analytics & Cognitive at Deloitte Consulting. The session was moderated by Mark Fazackerly, Talend’s Australia and New Zealand Regional VP. Pulling from their experiences within the business world, the panellists discussed the usefulness of data in accelerating digital transformation. One point of agreement raised by Shameek was that businesses need to have a purpose for their data rather than collecting them into data lakes without objective use. Unsurprisingly, all the panellists noted that data has been a major player of DX during the pandemic. Abhi gave some insightful comments as to why it is so hard for businesses to successfully digitally transform as humans tend to grasp on to the emotional and have a hard time trusting data.

As the topic of the forum revolved around data health, all three representatives agreed to the fact that it is very important for businesses looking to digitally transform but is a grey area of sorts in terms of the subjectivity of data health needed for individual organisations.

The technology session presented Talend’s C360 solution with a demo that can be requested at this link.

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