Better use of customer data is key to enabling Britain’s water sector deliver for its customers in the years ahead, a new report from Ofwat reveals.
The report, which is titled ‘Unlocking the value in customer data’, provides water companies with a helpful framework with which to unlock the huge potential of their customer data which in turn could help to drive up customer satisfaction.
The report also encourages water companies to learn from businesses in other competitive retail markets which have successfully harnessed customer insight data to offer better services that are tailored to meet the needs of the customer.
In its forthcoming 2019 price review, Ofwat will challenge each water company to deliver a real step change in how they engage with their customers and this will include developing new and innovative approaches to better understand their needs.
Ofwat Senior Director of Strategy and Planning John Russell said:
“In the years ahead, a key priority for Ofwat will be modernising Britain’s water sector to make it ever more responsive to the needs of the customer. Today’s report illustrates the potential of customer data in the water sector and how it can help water companies to provide a high quality service which is driven by a thorough understanding of the needs and expectations of the customer.”