Holy Grail of Analytics: 360-degree Customer View

Published on June 30, 2017 by Abhishek Joshi

The 360-degree Customer View provides an integrated view of the customer across the enterprise. It picks up the most relevant customer information from across departments and assimilates it into one repository. This information can then be used by the enterprise to improve sales and marketing decisions along with gaining measurable business value through the application of analytical solutions atop the repository. Thus, the 360-degree view puts the customer at the center of the enterprise and the analysis.

For a holistic outlook, a firm must consider a variety of factors; including customer comments, buying history, marketing response, and utilization of social media. A 360-degree customer view allows the company to keep track of all these interactions. To obtain this view, organizations will need to be able to leverage internal and external sources of information – along with strong master data management to assess customer sentiment.

A true 360-degree view goes beyond simple profiling and needs to include past, present, and future views:

Past: Providing a meaningful and easily digested view of the customer’s history. This includes product or policy activity, interaction history across all channels, recent product views, campaign activity, servicing history, preferences, transactions, influencing others, etc.

Present : Presenting key customer information about who they are and how they relate to the organization. It should include the reason for the interaction, the channel they are using, and the customer’s value.

Future : Initiating actions that can guide the future of the relationship by asking relevant questions related to the customer’s lifetime value, likely churn, possibility of utilizing up-sell/cross-sell opportunities / targeted messages, and the customer’s likely reaction to offers.

However, delivering on the 360-degree view is not simply about having a unified database of all activity, but involves collating and analyzing information to derive meaningful insights.

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