A year ago, Google CEO, Eric Schmidt said, “Every two days now we create as much information as we did from the dawn of civilization up until 2003.” One can only assume that this rate is even more accelerated today.

Clearly we are all drowning in data that continues to proliferate at an ever astounding rate. Couple that with the fact that data often exists within silos and is not fully integrated across channels or functional lines of business within companies. Creating customer insights and leveraging those insights to enable mutually satisfying relationships that foster acquisition and retention is no small challenge.

Forrester Research’s report from July 19, 2011 entitled “CI Teams: Blocking And Tackling Is Not Enough” includes the following chart illustrating the challenges Customer Intelligence professionals face.

CI Professionals Face A Wide Range Of Challenges

Forrester Research, Inc. July 19, 2011

Despite these challenges, careful examination of available data and application of innovative analytical and modeling techniques can provide marketers with successful acquisition and retention strategies and the ability to create programs that enhance relationships with existing customers and identify prospects who will be receptive to their communications.

Knowing what you need to know among the plethora of data elements available and identifying the key facets to study can be immensely important to results.

What type of data challenges are you facing and how have they impacted your approach?