Get a Competitive Edge from Data Quality

Measuring data quality is no longer an option for businesses, it defines the ability of the business to stand out from the competition. The need to gather and assess high quality data has also picked up due to the linked advantages of the businesses success as data-driven decision making. Nowadays, Managers and decision-makers are highly relying on these models to make important business decisions.

 

data hierarchy

 

How Endemic is the Problem?

On average, data quality in business is estimated that 22% of all it’s contact data is inaccurate in some way. Inaccurate data is higher among marketing and sales professionals, who believe that more than 30% of the data in hand is inaccurate in some way. This problem manifests itself often as a barrier in data-driven decision making.

Why is the Quality of Data Important?

  • Better decision making

  • Data quality cannot be compromised due to a heavy reliance on data models to make data-driven business decisions. Poor data quality can lead to negative consequences and heavy financial losses, but can also leave a stain on the business's reputation due to weak business strategies or underperformed marketing campaigns. With quality data, management teams can focus their energies and efforts on monetary action items rather than cleaning up data sets. 

  • Better marketing strategy

  • A clean, high-quality data improves the accuracy of results, therefore, providing you with the tools to measure the performance of marketing efforts in order to make better marketing decisions. If your customer data is correct you can make decisions in terms of content creation and campaigns targeted at data segments that are much more likely to give effective results. Customers are learning to expect personalization and customization from companies and businesses both large and small, and with data, you can effectively target communications by demographics and interests.

  • Improve Service Experience 

  • It’s important not just to keep your customer data accurate, but also your business, employee, and product data. With clean, accurate data you can measure and monitor business performance best through data analytics. From them you can understand your customer trends and build a brand engagement plan.

     Linkers Customer Experience (Cx) gathers high-quality data on your customers, enabling you to improve your service experience, operational efficiency, and profitability. Learn more about Linkers Cx

    What Makes High-Quality data?

    Now the question of identifying good quality data arises. What makes high-quality data? High-quality data is integral if it is accurate and predicts accurate outcomes, providing accurate results in analytics-based applications and platforms. The 3 main factors that result in high-quality data are:

    1. Data Completeness: Accurate, complete data set containing all the recorded data, reliable and not contradict with other data sets.
    2. Data Consistency: Absence of conflicts between values and redundancy.
    3. Data Reliability:  Measures and defines the reason for the collection of the data set.

     

    Bad data can be a cause of many problems in businesses large and small. Incorrect data can not only cause wasted time on sales leads, it can destroy your business reputation. With clean, accurate, and high-quality data you can get ahead of the competition, creating personalized marketing campaigns, improving your business, and maximizing your business’s profits. It’s time you have a deeper look at your data. Would you like to start growing your business with data?

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