Ground Truth – The Basis of Digital Transformation
There are two new challenges nowadays companies are facing: modify the way of thinking and reinventing themselves, along with their digital transformation. Indeed, the digital customer requires a completely new “accompaniment” along their journeys because the competitor is usually only one click away.
The customers cannot be loyal to the company in the long term, unless the customer service quality is proposed to the customers and satisfies their needs. To generate this added value, all companies need 360-degree vision of the client frequently cited. It is only under these conditions that the companies can deliver tailor-made offers and information to their customers in the right place at the right time.
“In a vacuum” analysis: attention to dangerous chain reactions
That’s why more and more companies are integrating the huge amount of customer data already available in Business Intelligence analysis systems, to draw consequences for the new orientation towards new economic and digital models, and to be able to undertake on this basis the modifications of the existing processes.
When designing marketing and sales campaigns, more and more predictive analytics technologies are being used, with which future trends are predicted. Trends then influence the design and implementation of concrete campaigns. The results of these campaigns are once again integrated into the Business Intelligence analyzes and also serve as a basis for strategic decisions. Related processes for other services, such as IT, logistics or finance are also in place.
On the other hand, if we take into account that the predictive analyzes are based on only ten percent of the historical data available to the company, the importance of the quality of these data is quickly clear. Prognostics can only be correct if the data is processed thoroughly, and always up-to-date, and if the prognoses are correct, then the adaptations to the new processes and the plans of the new campaigns work. On the contrary, this results in a dangerous chain reaction, even fatal for the company. From untreated data, analysis is not accurate, leading to process or campaign changes with errors, and subsequent false strategic decisions.
Ground truth: reality on the ground for a successful digital transformation
It is for this reason that we have conceived under the concept of “ground truth” as a methodology of resolution and procedures that leads to a database quality, from which reliable data analysis can be carried out. The classic “golden record”, thus the central registration of a client, is enriched with the transformation rules that describe the access to interaction and transaction data from different data sources.
The “golden record” then becomes the customer’s “golden profile”. This “golden profile” combines address data, purchasing behaviour, purchase history, preferences and traces that the customer leaves on the Internet and Social Media. Thus it is possible for the first time to obtain a truly complete, accurate, up-to-date and 360-degree view of the customer.
The ground truth methodology ultimately helps companies ensure that their prognoses and analysis are no longer a matter of chance, but that they are based on a solid foundation, which is necessary for a relevant data analysis. In this way, companies are able to successfully master the challenges of digital transformation.