Whether driven by lack of product differentiation, insufficient revenue growth, competitive pressures, or simply the need to improve the prospect/customer experience, companies are seeking to better understand their customers in order to more effectively acquire, retain and profitably monetize their business.

Whether driven by lack of product differentiation, insufficient revenue growth, competitive pressures, or simply the need to improve the prospect/customer experience, companies are seeking to better understand their customers in order to more effectively acquire, retain and profitably monetize their business.

A "360 degree view of the customer" has become a common phrase used by Customer Relationship Management (CRM) solution providers. Indeed, these solutions can provide much of the account information needed to understand customer attributes and track and manage communication.

Yet for transactional data, Enterprise Resource Planning (ERP) solutions that form the operational system of record of the business provide a missing link to complement the view; customer interactions are also captured in contact center systems; and for behavioral input, marketing automation deployments also contain valuable knowledge of the customer.

The bottom line here: With so many data repositories representing valid customer data, how can companies effectively establish a "single version of the truth" regarding their prospect or customer?

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