Data quality is absolutely critical to a company's success in the marketplace. With companies using advanced techniques to make detailed projections based on information, it is vital that the figures in question are correct. According to a new industry-wide survey by analyst Graham Rhind, firms generally realize how critical it is to manage data but lack the means to do so.
The study focused on data gathered from consumers, an absolutely vital area of information when attempting to create outreach programs. The source stated that such information is rarely checked or verified. Email address verification software and similar programs for general customer information could save money that would be wasted on communication efforts to wrong addresses.
"As the way in which customers interact with businesses continues to evolve, these organizations need to increase and enrich the data they acquire for their sales and marketing activities, but it must also be accompanied by scrupulous data quality management," said Rhind.
Each facet of a customer's relationship with a company can be measured through data. According to Business 2 Community, some savvy sellers are taking this thinking to an extreme level, combining information silos with new big data analytics technology.