Data quality is something organizations know they need---eighty--nine percent of U.S. companies plan to make data quality solutions a priority in the next 12 months. But the question is, how do you get to a state of better data quality? What are the right solutions? Can’t data just magically appear accurate and fit for a given purpose?
In today’s data-driven economy, we all want data at our finger tips and we use it in a wide variety of ways across the business, from marketing automation, operations, consumer insights and so much more.
My last blog post was entitled “Why every business needs a single customer view” (SCV). It points out the incredible value that a consolidated and consistent view of your data—organized by customer—can deliver but also acknowledges some of the challenges that prevent companies from implementing such a view. For a real-time SCV, obtaining technology to link to existing systems and to collect and store data is one of the biggest issues. Before any investments are made, however, it’s important to carefully plan what data will be used, where it will come from, and how you will make sure that it’s fit for purpose. To prevent, in the words of that oft-quoted adage, “garbage in, garbage out”!
Learning more about your customers and achieving a single customer view is a seemingly elusive goal for many companies. With the right tools, however, you can append your existing information with additional data to get a more holistic view of your customers. Prospect IQ (PIQ) is one of Experian’s data enrichment solutions that enables you to do so. PIQ is used most often by companies to enhance their marketing through greater customer insight and personalization. Whether that means better approaches to getting repeat customers, new avenues for attracting new leads, or better targeting existing leads, enriched data provides additional information that helps you approach your goal more strategically. Beyond marketing, other customers use PIQ to better understand their customers’ wants and needs, to expand product lines, and to model the likelihood of a sale.
We live in an era of healthy living (whether we like it or not). Much to my dismay, I find my doctor constantly telling me to eat more fruits and vegetables, whereas I would rather be eating a cheeseburger and fries. And that’s not all – drink more water, cut out carbohydrates, take the stairs, get more sleep – it’s endless! The reality is, my doctor is right—and if I want to live a long and prosperous life, I need to take a comprehensive approach to my healthy lifestyle. Eating a green bean occasionally isn’t going to do the trick. I must see how I can incorporate as many aspects of healthy living as I can into my everyday life.
Data is truly at the heart of every organization. We use it to back up business proposals and initiatives, prepare forecasts and projections, pinpoint areas for improvement, and substantiate cases we try to build. We can’t rely solely on instinct and gut feeling because they are intangible, and with the amount of information collected in today’s data-driven society, most businesses have come to expect the credibility that data brings and are investing in that power.