How Data Integration and Machine Learning Improve Customer Loyalty - Part 2

Last week, I introduced the notion that businesses can gain deeper customer insights if they connect their disparate data silos. Similar to how oncologists can leverage information from genome sequencing to tailor cancer treatments for a specific patient in order to improve health outcomes, businesses can use all customer data from disparate data silos to personalize interactions with their customers to improve customer loyalty. Using the 2x2 graphical approach to understanding data size (i.e., number of customers and number of variables), we can see how the value of your integrated business data is greater than the sum of its parts. Figure 1 illustrates these two components of size by examining four different scenarios of how businesses use their data. In the lower right quadrant, it is business as usual; when departments keep their data siloed, each department only knows a few things about the customers.