In one environment, our client was looking to increase market share through enhanced customer analytics and segmentation. A leading international consulting company was engaged, at a cost reported to run into millions of dollars, to assist them with defining their new analytics goals and strategy.
The outcome: The client was advised to segment customer according to various characteristics such as Education Level, Income, Job description, and many more.
The reality: The client’s customer facing applications and customer take on processes did not cater for capturing most (if any) of these fields.
In this case the consultant made assumptions as to the availability of data that were unsubstantiated.
The client may have been better served in reducing the budget required for strategic consulting until the data quality issues were resolved
The road to a better customer experience lies through better customer data.