A single source of data refers to the practice of maintaining all of the company’s operations, procedures and intellectual property on a single platform.
Managed by efficient authorities, a single source of data becomes the only source of credible information for an organisation. With a singular source of all information, brands can eliminate issues arising from duplicate records and versions of data.
Similarly, such sources provide a complete audit trail, along with access to prior versions. A single source of data helps organisations access critical data from production, customer service, sales and marketing all in one place to inform crucial decisions.
In addition to data access and analysis, businesses can leverage a single source of truth to create unique commerce experiences across different channels. For example, marketers can rely on unified data sources to access real-time details like shopping history and accordingly personalise customer communication.
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