Data Centralization: find what it is and its Importance

Data Centralization: find what it is and its Importance

Customer relationship management is essential in today’s competitive marketplace. Winning a new customer can cost up to 5 times more than keeping current customers, so it is vital to know customers well and their needs. The customer’s data storage, when done correctly, allows us to know the profile of the client-type and define strategies to nurture the existing relationship. In today’s article, we will talk about data centralization and explain why it is so important in today’s marketplace!

What is data centering?

One of the major problems for managers and decision-makers is having different customer data in different information systems, which makes consultation very difficult and impairs strategic decisions. Having a system such as a CRM where all the information about the customer will eliminate the search time of the data and will allow for faster and weighted decisions is very important. Multipeers is a great help in this matter, since, being a BAM system, it allows to condense in a single platform all the information coming from the most diverse information systems and presents them in real time.

Advantages of centralizing data

• Larger organization: When all company information is located at a particular point, all business activity becomes more organized. It is fundamental that whenever new information arrives this is categorized and organized, facilitating its consultation in the future. In this way, the risk of data loss is very low.
• Greater integration between departments: internal communication is essential for the proper functioning of a company. All sectors are dependent on other departments and there is a need for collaboration between them. Everything is interconnected, so you have to establish rules to improve communication. Centralization of data allows the unification of communication, which results in a better relationship between all sectors of the company.
• Greater knowledge about customers: having all your customers’ data and their purchase history is very important to understand the relationship that each customer has with the company. The data collected becomes important information for a conscious decision making and to unambiguously draw the profile of each client. With all this information available, it is easier to launch marketing and sales campaigns that result.
• Decision security: When information is subject to cataloging rules, data becomes more reliable and decision makers feel safer when making decisions. If the information is spread across various data systems, it is very likely that some information is lost and complicates the decisions made, either by wrong data or outdated information. When the information is concentrated in one place, the information is more credible and it is safer to decide for the success of the company.