US organizations who fail to address data quality issues are risking losing a substantial amount of money, it has been suggested.
According to the Data Warehousing Institute, bad data is costing US companies $611 billion every year, with many businesses accepting that they have problems but being unsure as to the best way to identify and correct them.
"In the days of tightening marketing budgets, companies need to efficiently reach every customer and qualified prospect," explains Greg Brown, marketing director at Mellissa Data.
In particular, data quality problems relating to incorrect address data, phone numbers and email addresses can often lead to missed opportunities in terms of marketing and sales, Mr Brown warns.
Added to this, the cost of undeliverable mail and returned mail is having a negative effect on companies' profits.
A recent article by Marketing Week recommended that businesses take advantage of address verification
tools to prevent errors from occurring.
The report highlighted software available from Experian QAS as being an advanced service which could be beneficial to businesses.
Posted by Rachel Wheeler