Customer data analysis a 'hot trend' for 2011
2010-12-30
Come 2011, one of the hottest trends for improving customer loyalty will be the implementation of master data management systems, the blog Customer Think predicts.

According to the blog, the new year will see a push for user-friendly customer data analysis tools. These systems will allow business intelligence professionals in financial institutions and other industries to get the answers they need quickly without having to rely on middlemen.

However, adopting best practices to manage customer data will remain a challenge, Customer Think reveals.

"Only when 'the business' takes responsibility and accountability for the master data will customer data management efforts truly become a strategic investment that can deliver significant business value," the news source explains.

In fact, technology that leverages customer data is expected to grow into a multi-billion dollar market over the next few years. Research by Gartner projects that investment in master data management will reach $2.9 billion by 2014, a growth rate of 18 percent. In 2010 alone, the market increased by 14 percent to $1.5 billion.

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