As per IBM, around 2.5 quintillion bytes of data are created each day. These numbers are gradually increasing, as even when you need a piece of information and turn to search engines, you are augmenting the data stockpile. However, when data is being generated in such a huge volume, its management and accuracy can pose to be a real challenge. To overcome the challenge, organizations require specifically skilled resources which imply additional expense and efforts.
“The customer data platform industry is expected to grow at least 50% per year, reaching over $1 billion total revenue by 2019”
– A report by Martech Advisor.
This affirms the fact that a customer holds utmost importance and the customer data is at the center, around which every organization revolves. In the business world, getting the attention of the target audience remains one of the primary motives behind the conduct of every business activity. In this era of ever-growing competition, businesses can’t afford to waste precious resources and valuable time. Hence, it has become a necessity for every business to keep track of the latest, accurate and authentic information at all times to stay ahead in this competitive corporate environment.
Reportedly, most of the businesses face internal technical hurdles in becoming a data-driven organization. The primary ones among these hurdles are:
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