It used to be that a relentless focus on your product or service was good enough.
It used to be that if a new competitor emerged you had lots of time to study, strategize and respond.
It used to be that one size could fit many.
It used to be that you could successfully run just about any business by intuition.
Today, if you aren’t capturing relevant data about your customers’ attitudes, behaviors and preferences you are flying blind.
Today, if you haven’t developed an actionable consumer segmentation that you use to constantly evolve your value proposition you are falling behind your best in class competition.
Today, you need a complete view of your customer as she navigates multiple channels and touch points.
Today, useful data enables you to treat different customers differently.
To be sure, data by itself is not insight. And having insight does not automatically translate into action.
But it is the foundation.
And more and more, those brands with the best customer insight, combined with solid intuition and the willingness to take action, have the ultimate competitive advantage.