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From Data Fragmentation to Real-Time Decisions
AI-powered decision intelligence unifies fragmented data, enabling businesses to make real-time decisions that improve customer experiences.
In today’s fast-paced, data-driven world, businesses are under constant pressure to make real-time, data-informed decisions. However, making informed decisions quickly is often hindered by the fragmentation of data across multiple systems and platforms. Imagine a sales team struggling to track a customer’s journey due to siloed data from CRM, transactions, external data sources. Without a unified data source, critical opportunities and customer insights are lost, slowing decision-making and impeding growth.
This article explores how AI-powered decision intelligence can transform this landscape by providing a unified, real-time view of customers, and enhance sales and marketing decision-making.
Creating a true 360-degree view of the customer
The foundation of real-time decision-making begins with consolidating fragmented data into a unified source. Many businesses face significant hurdles when attempting to integrate data from various systems.
37% of Chief Data Officers cite siloed infrastructure as the greatest challenge in delivering on their organization’s data vision, according to Accenture.
47% of digital workers struggle to find the information they need to perform their jobs effectively, according to Gartner.
Without a holistic view, decision-making is often delayed or based on incomplete information. For instance, customer information might be scattered across multiple lines of business, such as retail banking, wealth management, and corporate banking, or home, pet and travel insurance. This fragmentation makes it difficult to see the complete customer profile and journey. If sales and marketing teams use disconnected systems, tracking customer journeys or identifying cross-sell opportunities becomes a difficult task.
Decision intelligence addresses this problem by connecting data across all customer touchpoints, creating a comprehensive, 360-degree view. While building a customer 360 view is not a new challenge, new technologies like entity resolution are making it possible to create a truly holistic picture. Entity resolution weaves together disparate data sources – both first-party and third-party - into a seamless framework, providing businesses with a cohesive understanding of customer interactions, behaviors, and relationships. Once this unified view is achieved, AI-powered decision intelligence can analyze the data and relationships and generate actionable insights for informed decision-making.
Leveraging advance analytics for automated decision-making
At the core of AI-powered decision intelligence is advanced analytics, which enables businesses to anticipate trends and automate decision-making processes. Advanced analytics uses historical data, machine learning models, and customer intelligence to forecast future trends and outcomes, empowering businesses to make proactive decisions.
For example, by analyzing customer behaviors, businesses can use advanced analytics models to:
Identify potential new leads with similar characteristics to high-value customers
Detect early signs of customer churn, allowing for targeted retention strategies
Forecast future sales opportunities based on buying patterns.
Benefits of adopting Decision Intelligence
Enhanced decision-making: With access to real-time, integrated data and insights, businesses can make quick, informed decisions. Whether it’s identifying new sales opportunities or optimizing marketing strategies, Decision intelligence provides the insights needed to stay ahead of the competition.
Revenue growth: A unified, accurate view of customer interactions and behaviors enables businesses to uncover new revenue generation opportunities. This includes making better product recommendations for cross-selling and up-selling, identifying new leads through existing customer connections, and enhancing customer retention through predictive analytics.
Improved customer experience: Automated decision-making based on a trusted, single view of the customer enables more personalized interactions. Businesses can tailor their messaging, offers, and services to meet individual customer needs, enhancing satisfaction and loyalty.
Operational efficiency: Managing multiple data sources and manual decision-making processes is time-consuming and error prone. By automating these processes, businesses can respond more quickly to changing market conditions, streamline operations, and reduce human errors.
While adopting decision intelligence offers numerous benefits, organizations should be mindful of potential challenges, such as data integration complexities and privacy concerns. A strategic approach to data governance and investing in robust integration tools can mitigate these issues.
Real-world applications
Global tier 1 bank: A global tier 1 bank wanted to make better use of their international client network to drive collaboration across divisions and accelerate growth. By implementing entity resolution and network generation technologies, the bank created a global, connected view of all customers and non-customers, enriched with external data like corporate registries. With advanced analytics applied to this true Customer 360 network view, the bank identified and prioritized high-value leads for frontline teams to react in real-time, resulting in $200M in new revenue growth.
Global telecom company: As the company expanded through acquisitions, customer data became scattered across various systems. This fragmentation caused challenges for the Sales and Account Managers, leading to poor experiences and missed opportunities. By integrating data across systems, the company now provides its teams with a unified, enriched customer view, and automates decision making from two weeks to just two clicks. Customer experiences was significantly enhanced with cross-sell opportunities identified.
A data-driven future powered by decision intelligence
AI-powered decision intelligence is revolutionizing how businesses operate in a data-centric world. By consolidating fragmented data into a unified view, organizations gain real-time insights that drive smarter decisions, uncover new revenue streams, and enhance operational efficiency. As decision intelligence technology evolves, companies will benefit from increasingly sophisticated analytics and automation, leading to faster, more accurate responses and a competitive edge in customer engagement.
Embrace the power of decision intelligence today. Explore how a unified data approach can transform your sales and marketing strategies, drive growth, and improve operational efficiency.
Contact us for a consultation or demo to see how Decision Intelligence can work for your organization.
