Customer satisfaction and retention is one of the objectives that business people aim at. This is because customer loyalty is an important aspect of business, as it is likely to increase their profits (Decker, 2005). Several business people have discovered the power behind using data to satisfy their customers. This paper discusses the kind of data that can be used, and how it can be used in satisfying customers.
In the service and commodity industry, keeping data on customers is imperative. The data that is important and should be communicated to customers is that which reflects on the performance of the business. The data can also entail service records and the customers’ feedback on their experience with the services. When new customers visit the business, they should be given access to the data, and, therefore, visualize on the possibility of receiving good services (Szwarc, 2005). For instance, a parent taking his child to a new school is often given records on performance and progress of the current and previous students in that school. This is likely to satisfy the parent by assuring them of their children’s success when they join the schools.
The data of an organization should be displayed publicly so as to assure continuing and prospective customers of success when the organization is serving them (Szwarc, 2005). An example is the banking industry, where customers need to be regularly updated on the performance of their banks through data, for them to have continued trust in the organizations.
Maintaining records is, for this reason, important practice among businesses. However, the kind of data communicated should be real and accurate to maintain the business ethics, by not misleading the customers. This is because most clients and other persons rely on this information in making crucial decisions.