A few weeks back we talked about customer data being a dirty word. The thesis is basic - customer data is the lifeblood of your business - it helps you better understand buying behaviors, allows you to deliver better customer experiences and sell more relevant products and services. Unfortunately, it isn't as easy as data in and insights out. The interaction with customer data at your business can be a liability nightmare, from compliance issues to losing trust.
Data privacy, trust and compliance are important issues to solve at your business but there are other customer identity data issues lurking at your organization that also need to be addressed. The data world has its common phrases and buzzwords. A quick chatGPT prompt regarding data quality, accuracy and their impact on analysis yields familiar phrases such as:
Garbage in, garbage out
Trust, but verify
Data without context is meaningless
Data is the new oil, but only if refined
Data noise drowns out signals
Perhaps you are a professional that doesnt regularly deal with the data challenges at your organization, however I am sure that all of these statements are familiar friends regularly said by your colleagues! Finding data solutions is foundational for your business but quite challenging. The good news is that while we might rarely hear this data-focused narrative in the identity and access management (IAM) world, we can draw from the existing market and start moving beyond what we traditionally think of our domain.
Why? Because our business (and profits) depend on it!
The identity data challenge
While there are many challenges when it comes to utilizing data at an organization, we will focus on those that, without being addressed, will hold the IAM industry back from making the most out of their existing infrastructure.
The first and most obvious challenge is data silos. As CIAM practitioners, we are familiar with data stored in CDPs, CRMS, CIAM systems and beyond. These disconnected silos can hinder collaboration and prevent a holistic understanding of customer data. After all, we are one person with many experiences, not multiple rows in a database!
The next related challenge is data integration. If all of the data you have on your customers is scattered across different systems and departments and you desire one unified, customer-centric view, do you have the tools in place to do so? Many attempts at this challenge become DIY, bespoke solutions that can be complex, time-consuming and prone to error.
Additionally, when working with data that you want to draw conclusions from, data accuracy and quality is paramount. The challenge of complete and consistent data at your organization cannot be underestimated as it forms the foundation for new services and personalized journeys.
The value in solving the challenge
The ultimate goal of getting in control of your data is to be able to extract meaningful insights. Just google data-driven insights to find companies that span multiple industries talking about the topic. It is a complex challenge, but when solved at an organization, it is the accelerant for the revenue generating fire! 🔥
Have you stopped to think about how the data you have at your organization is used? What are the opportunities waiting to be realized in your identity data stack that are hindered by foundational data challenges?
The good news is that connecting the silos and leveraging quality data for insights is not so far out of reach. A connected identity data platform, like IndyKite’s, can be implemented alongside your exisitng stack – no rip and replace – to completely transform your data alignment, management and operalization.
Interested in learning more? Book a demo and we’ll walk you through how it works.
