Learn how businesses can harness the full potential of their customer data assets by investing in solutions that prioritize Customer Data Quality.

Most organisations are actively working to shift their communications from paper to electronic formats.

After all, we can save around $1 per communication if we send an email rather than a traditional letter.

So, given this shift, is there still value in quality address data?

I would suggest that customer-centric organisations should find value in address data that goes beyond the ability to deliver mail.

Insightful Customer Understanding

Using spatial analytics tools we can plot our customers on maps overlaid with access to services, income demographics or risk profiles, allowing us to identify specific opportunities for improving access to our services or targeting specific consumers with special offers.

Quality address data can give us significant insight into our customer. #DataQuality #LocationIntelligence #CustomerInsights

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Strategic Planning Tool

An understanding of our client’s location can be a critical tool for planning.

Where should we make investments in infrastructure, or what is our most effective route for deliveries?

Of course, if client address data is incomplete, poorly structured, or contains errors, it can be impossible to map the address. Quality address data is a prerequisite for geocoding.

Unveiling Customer Relationships:

Quality address data also allows us to identify and link related customers (householding)

Many organisations struggle with the elusive “single view” of the customer.

Address data provides us with numerous data points – a house number, complex name, suburb and many more – that can be used to identify relationships. A consolidated view of the customer can be used to improve service delivery, minimise risk or comply with legislation.

Revealing Household Insights

Quality address data allows us to go beyond matching individuals.

Family or business relationships (households) can be identified by grouping multiple individuals that share an address. Households give us further insight into our customers.

What is our total share of the wallet of the entire family?

What is our total exposure to this household?

Conclusion

The old board game, Monopoly, is based on the value of a good address. The value of quality address data extends far beyond mail delivery.

For the customer-centric business, quality address data provides valuable context for real insight.

It offers customer insights, aids in strategic planning, and reveals relationships and household dynamics. Organizations should recognize and leverage the significant benefits that address data can provide.

Are you ignoring the value that you can get from your address data?

Enhance your understanding of customer behaviour through Location Intelligence. Learn more about how it helps companies like Marks & Spencer drive retail success with our case study.

Addresses are just one component of customer data. Learn actionable techniques on how to improve the quality of customer data to enhance business operations and drive growth

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