212 respondents from all the Nordic countries have contributed to this report about of B2C companies’ collection and use of customer related data as a tool to gain a competitive advantage in the market. The analysis shows that companies generally consider data as valuable, but also that there is a big difference in the extent to which data is utilised in the companies. And the majority are convinced that it could be done better

 

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Key findings

Data is Business Critical

75% of the respondents answer that it is essential to collect and analyse customer data, if you want to ensure your company’s future development and growth. More than two thirds answer that the collection of customer data is highly prioritised and strongly anchored among top management in the company

Data Quality, Time, and Analytical Tool are Challenges

Half the respondents believe that the company’s customer data have a ‘good’ or ‘very good’ quality, and the majority point out that accessing data is difficult. That and the lack of time, analytical tools, and competences are the most common barriers among the respondents regarding making better use of their data

Few Make Use of External Advice

Most of the respondents point out that there is a lack of competences internally in the company, when it comes to using the customer related data. A small part of the companies makes use of external consultants and suppliers to maintain, analyse, and enrich the data

Companies count on other to be better

Almost every second respondent believe that the industry they belong to is generally good at using data. It seems like the majority believe that their competitors and the remaining market is better at making use of their data than they are themselves

Business Benefitting Customer Analysis

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Oliver Newton

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