In this video blog, we explore how much data is worth, and what businesses can do to dramatically increase its value, adding to their bottom line and improving customer experience and trust.
Data is valuable, a fact that is underscored as companies like Facebook and Google earn stock evaluations reaching billions of dollars, in large part because of the consumer behavior data they can access.
However, all data is not valued equally. Some types of data are inherently worth more than others because it offers a deeper understanding of customers. Gathering information about the web pages a customer has visited and the products they are researching, for example, can provide helpful clues to who your customers are and what they want. Yet, this inferred data can be inaccurate.
That’s why explicit preference data that a customer directly shares with a business is tremendously valuable. Providing insight into a customers’ interests and intentions, this data supports the personalized, relevant customer experiences that help businesses stand out from the competition.
Customer Preference Centers can significantly increase the value of your data. Preference management can capture customer choices about methods of communication, topics of interest and data privacy. It can also ensure that these preferences are honored across all channels and customer touchpoints.
UPCOMING WEBINAR FEATURING NEW FORRESTER RESEARCH
Tuesday, November 10
10am PT | 12pm CT | 1pm ET
Join UnboundID and Forrester Principal Analyst, Fatemeh Khatibloo, to learn how Customer Identity and Preference Management can help you drive 1:1 customer experiences and grow your business.
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How to Increase the Value of Data by Managing Customer Preferences
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