Data quality

There’s no doubt e-commerce is booming. Shoppers love the convenience of browsing their favorite brands and purchasing goods online from the comfort of their home or on-the-go from their phone. That’s why retailers’ top business priorities include moving through digital transformation (46%), according to our research.

The impact of the COVID pandemic is being felt across industries but one industry has been hit particularly hard—the retail industry. With the onset of COVID-19, non-essential, brick and mortar stores were forced to rely exclusively on their e-commerce platform, which left them with a declining bottom-line and customer experience.

The role of a chief data officer may take on a variety of shapes depending on the industry, enterprise, and maturity of the data program he or she is working for. Our research reports that mature data organizations are more likely to have a chief data officer in place.

The question is: At what point in your data management program should you hire a CDO? And, how does the CDO’s role evolve as your data program evolves?

Credit reporting can be challenging at the best of times but right now there’s more than usual to be concerned about. By proactively validating your data and eliminating common errors, we can help you reduce frustration, risk, and cost, increase satisfaction, and give you your time back, even during a crisis.

Businesses who struggle with Metro 2® guidelines face a manual, time-consuming data analysis process and may have a lack of resources to support the regulatory operation. Additionally, with the internet at their fingertips, consumers have become well-informed about their credit and disputes continue to occur.

Now, more than ever, you need to re-evaluate your database to ensure pristine, validated data because your customers are now working remotely, brick and mortar locations have closed, shipments are delayed, and your primary way to stay connected is through digital platforms.

To reap good results and fully operate as a data-driven organization, you need to first make sure all your employees are equipped with the data skills needed to leverage insights daily. Organizations see an increase in efficiency, customer trust, customer satisfaction, informed decisions, and cost savings. 

Research shows 85 percent of organizations see data as one of the most valuable assets for their business, and as organizations move up the ranks toward an optimal enterprise-wide data quality management program, they need a leader. A leader who can pave the way for their team to achieve that data dream state, a chief data officer (CDO).

In today’s uncertain retail environment maximizing customer satisfaction requires anticipating the challenges customers may face. When you validate your addresses, you are making things right. By having accurate shipping addresses, you can avoid bad outcomes that result in lost goods.