Our latest research reveals how leading firms grow faster by using their data to become more customer-centric.
Customer-centricity is now table-stakes for most businesses, but being customer-obsessed and/or -clairvoyant is even better. In our study of over 300 U.S. firms1, we plotted companies on a customer- centricity spectrum2. The results uncovered a fascinating dynamic: between 2020 and their most recently completed fiscal year, customer-obsessed companies’ revenue increased around four times faster on average than the revenue of the least customer-centric firms (the customer-indifferent and customer-ignorant ones). Importantly, the obsessed and clairvoyant firms’ revenue rose two percentage points higher than the merely customer-responsive ones.
What separates these companies from the rest? They have built solid data foundations to collect and analyze greater volumes and types of customer data. And when new technologies such as genAI emerged, they put them to use where they mattered most—continuously improving their data foundations to cut cycle times, applying metadata to improve data organization, and analyzing new data types such as unstructured data, including video and audio files, to gain unique insights into customer behavior.
This infographic, the third in a three-part series, highlights five reasons why leading firms turn their customer data into revenue growth.
