Although the majority of companies admit that client knowledge is a key to improving results, the main problem they face is what to do with the information they have available. A study of the multinational company Teradata titled “Customer Valuation Gap Survey”, carried out among close to 200 directors of large companies, points out that up to 44% of those surveyed felt incapable of taking advantage of the information they have in order to estimate their client’s value.

For the majority of the directors, the problem is not only obtaining valid information, but rather what to do with it in order to advance their knowledge of their clients. On this point, organizations face a diverse number of problems. The most severe are the budget limitations. After that comes the lack of information and analytical abilities of employees, followed by the presence of duplicate data.

The study shows that, although 86% of those consulted is aware that anticipating client needs and preventing “churn” are fundamental aspects, 55% display their impossibility in determining when a customer is about to go to the competition. According to the authors of the study, preventing abandonment is more or less complex according to the client profile. In the case of those who stop buying or paying for a service, it is easy to suppose that they have changed providers. The difficult thing is to determine if a client has lost loyalty to the company and is considering other options.