The more data you collect, the more relevant you can make your customer experience. Relevance leads to a better customer experience, which leads to more opportunities to collect data. A customer-focused, data-driven organisation needs to embrace this cycle, which enables both incremental and disruptive innovation.
Businesses need to embrace dynamic data that enables them to keep a clear view of their evolving customer. This data strategy should be built around lagging, current, and leading or future indicators, each of which can give you a different piece of the data puzzle. If this happens, the business will have a clear view of past and current performance as well as where they can go in the future.