Data quality improvements can help to increase a company's profits, recent research from Experian QAS has suggested.
The firm's latest survey found that organizations that have made developments to their data quality processes in the past two years have generated an average of $1.2 million in additional profits.
However, research suggests that more could be done. Although 87 per cent of US organizations have a documented data quality strategy, 73 per cent are still reliant on at least one manual task to manage the accuracy of their contact data.
Thomas Schutz, senior vice-president and general manager of Experian QAS, commented: "Businesses understand the need for accurate data quality, but they struggle to accomplish it due to a reliance on manual data cleansing processes.
"Organizational leaders need to eliminate the possibility for human error, allowing them to realize cost savings, operational efficiency and other business benefits from achieving accurate contact data."