Co-written by Daniel Foppen, Sr. Principle Product Manager, Oracle CX Service
Duplicate, siloed and out-of-sync customer data – otherwise known as rogue customer data – is a huge issue for brands worldwide. Not only does it hinder gaining a full view of a customer, it is costing brands millions of dollars each year. It is estimated that 20% to 40% of all customer records within an organization are duplicates, costing between $20 to $100 per duplicate annually!
Do the math. If you have one million customer records and 30% are duplicates, you would have 300,000 duplicate records. If you take a cost of $50 per record, that means this costs the business $1.5M annually.
To learn more about the various types of rogue customer data and how brands can save money, become more efficient and offer the personalized experiences customers expect today, watch our fun video that explains everything you’d want to know.
Oracle Customer Data Management is Now Available!
What’s the answer? We are announcing Oracle Customer Data Management (CDM) for B2C Service. Oracle’s CDM is a proven solution used successfully by many of Oracle’s B2B customers and now we are making this available for B2C organizations, which typically have a much larger number of customer records. This solution will give B2C enterprise brands the ability to create and maintain the “golden customer record” for tens of millions of customers in siloed systems. To dive deeper, the new CDM for B2C Service offers three components;
- Customer Data Hub: This is where brands can easily create and maintain a customer master record that is used by multiple systems.
- Data Quality: The real magic happens here – brands will be able to leverage AI-fueled tools to match and clean rogue data at the scale B2C enterprises command.
- Enrichment: Our enrichment capabilities ensure correct address information globally thanks to our friends at Loqate, the world’s largest provider of address verification services.