This year, Enterprise Data World (EDW) took their conference to the Omni Hotel in Atlanta, GA. EDW examines the latest trends in the world of data—especially in regards to data governance and data quality. This event focused on leveraging data as an asset and bringing IT and business users together to make better decisions for their enterprises. The keynote speakers focused on the emergence of the Chief Data Officer (CDO) within organizations, the importance of having a foundation of high quality data, data modeling, and much more.
Last week, I had the opportunity to speak with Mike Delgado from Experian for a ‘Data Talk’ interview. We chatted about the 2017 Global Data Management Benchmark Report, and you can see the video of that interview in this post.
Here at Experian Data Quality, we help our clients ensure that their address data quality is up to date and accurate. We also help you provide the best user experience possible for your customers thanks to our recent launch of Global Intuitive real-time address verification. Each year, we process more than 3 billion transactions across every country and territory on Earth. Cool, right? While that may be the case, we’re not stopping there.
We’ve been working hard at combing data from numerous sources and building an address capture engine to create an API we’re really proud of. Today we’re happy to announce our first leap beyond Earth into our solar system with LunarCapture: an intuitive address capture API for the moon!
There are many different variations in the way addresses can be written, depending on which country you're in, which country you're mailing to, where you got the address information (a business card, a postal authority, an email signature, etc.), how recent the addresses are, and whether they have all the required parts of a complete address. All these factors contribute to potential areas of inaccuracies in address data.
Here's what you can do to verify your address data:
NameSearch is Experian Data Quality’s premier matching solution that can accurately and efficiently identify duplicates within your systems. NameSearch uses fuzzy matching to identify records that lead to the same individual, despite the misspellings, nicknames, typos, extra, or missing information across a single or multiple databases. It’s useful for organizations in any vertical that might require a matching solution, and, because of that, it is highly customizable.
The costs of shipping can vary based on the type of address to which you’re sending. We incorporate three datasets into our address verification solutions to help businesses get a better idea of what kind of address they are shipping to (business or residential), and that helps them make more cost effective shipping decisions. To help you decide which dataset is best for you, we’ve outlined the differences between ATI, RDI, and RTI.
Reading the statistics on cart abandonment rates can be quite sobering. Sixty-seven percent of online carts are abandoned before a purchase is made and, apparently, about 97 percent of mobile carts are abandoned. The reasons oft quoted are myriad but one of the bigger issues is simply the time it takes to check out; the longer it takes, the more likely that your customer will become distracted. Plus, when the shopping process requires any significant amount of typing on a mobile, forget it! Although you have to find a way to enable accurate address capture and to collect other important information, requiring customers to input too much is surely one reason that the mobile abandonment rate is so high.
The digital economy is coming, says IDC, and traditional organizations will need to adapt in order to stay relevant—and fast! This new economy, which is facilitated by technologies such as the cloud, artificial intelligence, the Internet of Things, and augmented and virtual reality, is rapidly changing the way business is done both here in the U.S. and abroad. According to IDC’s research, 33 percent of the current U.S. economy is digitized, and by 2020 (just three years away) they predict that 50 percent of the global 2,000 will see a majority of their businesses digitized.
This week I was able to attend the Gartner Data and Analytics Summit in Dallas. For those of you who weren’t able to join this meeting of data professionals, I thought I would share a few of my key take-aways from the event.
At Experian Data Quality, we’re passionate about giving back to our community and building the next generation of leaders. On February 16, 2017, we did just that by hosting a fundraiser to support a local nonprofit, YouthBuild. The Boston-area organization helps low-income individuals reclaim their education and build the skills they need to thrive in employment. According to the organization, there are “at least 2.3 million low-income 16-24 year-olds in the United States who are not in education, employment, or training.” YouthBuild aims to service this population and help to unlock their potential.