9 standout quotes from ‘Gain better customer insight via improved data quality’ webinar

Yesterday, we held the ‘Gain better customer insight via improved data quality’ webinar that reviewed our 2016 global data management benchmark report’s most important findings and conclusions. Erin Haselkorn, Analyst and Public Relations Manager and Basil Brown, Pandora PreSales – Technical Lead discussed the key takeaways: how to gain better customer insights, how to improve data operation, and how the data management space is evolving. But in addition to those key takeaways, we’ve put together these 9 standout quotes from Erin and Basil that capture the most insightful points.

Erin Haselkorn, Analyst and Public Relations Manager, Experian Data Quality

1. The rapid pace in which information is coming in today essentially means that we have to stream analytics in order to gain insight and react to it quickly enough. Because of this shift, 55 percent of businesses state they’ve put a big data strategy in place.
2. Organizations collect data from an average of three channels. Email remains the top channel used to collect customer data (63%), followed by website (62%), point of sale (47%), call centers (47%), social media (29%), and mobile apps (27%).
3. Seventy-five percent of businesses have trouble predicting when and where the next data issue will arise, which means that they are often left dealing with unhappy customers or frustrated employees before the issues are identified.
4. Seventy-eight percent of businesses believe data management is driven by multiple stakeholders rather than a single data specialist. More individuals—not just the IT side of the business!—want to be involved with data management than ever before.
5. Data responsibility is still predominately fragmented, being measured at a department-by-department level, rather than across the business as whole. Only a third (31%) review and maintain their data quality strategy centrally.

Basil Brown, Pandora PreSales – Technical Lead, Experian Data Quality:

1. As with previous years, the most common data errors we’ve seen are incomplete data, outdated information, and duplicate data. New to this year’s responses is inconsistent data at 37 percent.
2. Organizations are beginning to employ more data-centric roles in general. Eighty percent of U.S. organizations are hiring people like data analysts, data scientists, chief data officers, and data warehouse specialists.
3. The need for proper data management has clearly increased and will only continue to do so. The top four data management projects revolve around cleansing, integration, migration, and enrichment.
4. Over the next five years, U.S. businesses believe data management will evolve to improve the overall customer experience, protect customer security, and foster informed decision-making. While a large portion of the data management initiatives focus on providing exceptional customer service, businesses also require them to make better, smarter decisions.

Take a look at our webinar on SlideShare below to see more of what insights were shared.

Go To Slide Share