The Value of Customer Data

Analytical CRM
Knowledge Center

 

Next Topic

Analytical CRM > Forum > The Value of Customer Data

The Value of Customer Data
Annalisa Cordoba, Manager, Spain, Member
Lots of people think that customer data and especially if you have a lot of it, is very valuable and can even provide a . And of course certain companies offering various software tools for collecting and/or analyzing customer data try to convince you of just that. However customer data is not always valuable. And even if it is, there are conditions that determine to what extent that is the case, how long the value might last, and if the data might represent a competitive advantage or even a sustainable one. Hagiu and Wright describe 7 practical questions to assess these conditions: 1. How much value is added by customer data relative to the standalone value of the offering? The more, the better. 2. How quickly does the marginal value of data-enabled learning drop off? How quickly is the point reached where additional customer data is no longer valuable? The slower that is the case, the better. 3. How fast does the relevance of the user data depreciate? 4. Is the data proprietary (...) Read more? Sign up for free

Please register now to read all responses and to join this discussion yourself. It's easy and 100% free.

Sign up for free     Log in


   
Special Interest Group Leader

Are you an expert in this field? Sign up for free


Analytical CRM
Summary
Forum
How to Use Artificial Intelligence in Marketing
Customer Classification Model
🔥Customer Profitability Analysis
What is Analytical Marketing? Explanation
The Value of Customer Data
Best Practices
🥇Analytical CRM in the Pay TV Industry
🥈Implementation of Analytical CRM: Customized Development or Vanilla Approach?
🥉Project Using Analytical CRM


Analytical CRM
Knowledge Center

 

Next Topic



About 12manage | Advertising | Link to us / Cite us | Privacy | Suggestions | Terms of Service
2020 12manage - The Executive Fast Track. V15.5 - Last updated: 7-7-2020. All names of their owners.