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This past spring, the global economy shut down overnight. The pandemic struck the world, forcing businesses to close their doors and schools and offices to work remotely. This accelerated any digital transformation efforts to accommodate new operations and maintain a positive customer experience from a distance. 

Collections teams like yours are bracing for an expected surge in consumer debt. Through 2019 and now a pandemic, consumer debt topped $14 trillion and it’s expected to grow. This is a smart time to look for ways to optimize operations, while saving dollars.

The latest global research study from Experian shows that over 80 percent of businesses believe data is one of their most valuable assets, which was the case even before the global pandemic. However, many organizations are struggling with data accuracy.

There’s no doubt e-commerce is booming. Shoppers love the convenience of browsing their favorite brands and purchasing goods online from the comfort of their home or on-the-go from their phone. That’s why retailers’ top business priorities include moving through digital transformation (46%), according to our research.

The impact of the COVID pandemic is being felt across industries but one industry has been hit particularly hard—the retail industry. With the onset of COVID-19, non-essential, brick and mortar stores were forced to rely exclusively on their e-commerce platform, which left them with a declining bottom-line and customer experience.

The role of a chief data officer may take on a variety of shapes depending on the industry, enterprise, and maturity of the data program he or she is working for. Our research reports that mature data organizations are more likely to have a chief data officer in place.

The question is: At what point in your data management program should you hire a CDO? And, how does the CDO’s role evolve as your data program evolves?

Credit reporting can be challenging at the best of times but right now there’s more than usual to be concerned about. By proactively validating your data and eliminating common errors, we can help you reduce frustration, risk, and cost, increase satisfaction, and give you your time back, even during a crisis.

Now, more than ever, you need to re-evaluate your database to ensure pristine, validated data because your customers are now working remotely, brick and mortar locations have closed, shipments are delayed, and your primary way to stay connected is through digital platforms.

To reap good results and fully operate as a data-driven organization, you need to first make sure all your employees are equipped with the data skills needed to leverage insights daily. Organizations see an increase in efficiency, customer trust, customer satisfaction, informed decisions, and cost savings. 

It’s no surprise that the COVID-19 pandemic is impacting businesses and consumers alike. As a retailer, you may have had to pause in-store operations and determine how to enhance your digital experience all while serving customers at the same level as you did pre-pandemic. Retailers are now leaning on their customer experience more than ever to drive sales in an everchanging world.