The number one impediment to a successful customer relationship management initiative is bad data. "On average corporate databases are less than 75 percent accurate across the six key indices of data quality, which include name standardization, address hygiene, demographic accuracy, completeness, transaction accuracy and linkage (household/enterprise)," Stephen C. Horne, president of ANALYTICi, noted during his session "Leveraging Analytic Tools to Optimize Your Customer Relationships" July 30 during NCDM Summer 2001 Conference in Chicago. "CRM is by design an entity-based process. Therefore accurate, timely and complete identification is imperative."
To understand the importance of data integrity and analysis as a key first step in building a customer-centric database, Horne says the information construction should be able to handle and manage these complexities:
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