Most brands in US, Europe failing to use customer data effectively: Survey

Brands that use CDPs effectively are 2.5 times more likely to increase customer lifetime value

Data has been the buzzword for all corporate strategies for a while now but it seems companies still have some catching up to do when it comes to utilising it. One of the primary findings of a new survey “Getting Customer Data Management Right” revealed that only 11 per cent of brands could use customer data effectively. Conducted by Forrester Consulting and commissioned by Oracle, the survey has included insights from 337 marketing and advertising professionals in North America and Europe most of whom agreed that brands wanted to unify customer data but faced significant challenges in bringing different data types together.