For over a decade now companies have been capitalizing on the three V’s of big data: volume, variety and velocity. The ready availability of customer data — in theory — translated into a goldmine of insights for businesses. Yet according to a recent Teradata report, even though companies collect ever-increasing amounts of data on customers, many still have a difficult time discerning how to use that data to provide better CX.
More specifically, though 82% of respondents said their firms are trying to collect more types of customer data, 61% went on to admit that capturing and making sense of digital customer data is difficult for them and 55% said understanding customers across all touchpoints and lifecycle stages is challenging.
