Experian Data Quality, a part of Experian Marketing Services and a leading provider of contact data management software and services, today announced the release of The state of data quality study. The report finds that data has become a more critical component of customer interaction and decision making, but the prevalence of inaccurate data means organizations are struggling to meet strategic goals.
On average, U.S. organizations believe that a quarter of their data is inaccurate, which negatively impacts business intelligence, marketing and customer engagement efforts. The level of inaccuracy is primarily due to human error, which occurs from a lack of a coherent, centralized approach to data quality. Sixty-six percent of companies lack this type of centralized approach, a situation which prevents organizations from analyzing, improving and controlling data problems by dividing resources and further siloing information.
“The increasing sheer volume of data means that more companies are looking to make better-informed decisions based on the information they hold,” said Thomas Schutz, senior vice president, general manager of Experian Data Quality. “Data quality is the foundation for any data-driven effort, but the quality of information globally is poor. Organizations need to centralize their approach to data management to ensure information can be accurately collected and effectively utilized in today’s cross-channel environment.”
The study found that organizations are looking to better coordinate across the many channels they utilize, with 87 percent of organizations now engaging in cross-channel marketing. However, the majority of businesses face challenges in this area of their operation due to inaccurate information and a lack of consumer data. This data deficiency is forcing 94 percent of organizations to append additional data to their customer contact information.
To obtain a copy of The state of data quality from Experian Data Quality, please click here.
About Experian Data Quality
Experian Data Quality is a global leader in providing data quality software and services to organizations of all sizes. We help our clients to proactively manage the quality of their data through world-class validation, matching, enrichment and profiling capabilities. With flexible software-as-a-service and on-premise deployment models, Experian Data Quality software allows organizations around the world to truly connect with their customers by delivering intelligent interactions, every time.
Established in 1990 with offices throughout the United States, Europe and Asia Pacific, Experian Data Quality has more than 13,500 clients worldwide in retail, finance, education, insurance, government, healthcare and other sectors. For more information, visit http://www.edq.com.
About Experian Marketing Services
Experian Marketing Services is a global provider of integrated consumer insights and targeting, data quality and cross-channel marketing. We help organizations from around the world intelligently interact with today’s dynamic, empowered and hyperconnected customers. By coordinating seamless interactions across all marketing channels, marketers are able to plan and execute superior brand experiences that deepen customer loyalty, strengthen brand advocacy and maximize profits.
For more information, please visit http://www.experian.com/marketingservices.
Experian® is the leading global information services company, providing data and analytical tools to clients around the world. The Group helps businesses to manage credit risk, prevent fraud, target marketing offers and automate decision making. Experian also helps individuals to check their credit report and credit score, and protect against identity theft.
Experian plc is listed on the London Stock Exchange (EXPN) and is a constituent of the FTSE 100 index. Total revenue for the year ended March 31, 2013, was US$4.7 billion. Experian employs approximately 17,000 people in 40 countries and has its corporate headquarters in Dublin, Ireland, with operational headquarters in Nottingham, UK; California, US; and São Paulo, Brazil.
For more information, visit http://www.experianplc.com.
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