Group 1 Software Europe Ltd
Many Businesses now understand that information on customers helps them improve their bottom line. Without the right data, business analyses will be inaccurate, distribution and channels to market could be disastrously mis-planned and marketing effort directed at the wrong people.
Modelled information on consumers (derived from census, household and credit information) used to be regarded as a powerful tool. But since the rise of the CRM movement in the late 1990s, pundits have been downplaying modelled information. The recommendation has been to put as much effort as possible into gathering real information from real customers and prospects in order to inform business analysis and market targeting.
That is all very well if such information is available in large volumes, or indeed if you can persuade people to give up their details in the first place. Yet things have changed over the past two years. Major restrictions have been introduced into the use of specific information through legislation and policy. This all means that modelled information - which extrapolates people's likely behaviour and buying patterns - has once again become critical to effective business growth strategies and marketing campaigns.