Now that companies recognize the value of their data, there is a strong push within the marketing sector to leverage insights for better campaign results, according to BtoB Magazine. There is a general understanding that firms that neglect these strategies will fall behind competitors that do use fact-driven analytics to carve out optimal routes to their specific customer demographics. At the same time, there is a growing understanding that these efforts are only as good as the company's data quality, according to Business 2 Community.
Despite that realization, marketing firms too often neglect their quality controls or look the other way, the source adds.
"The data is ugly, overwhelming," Sandra Zoratti, vice president of marketing at Ricoh Co., told BtoB. "No one knows how to tackle it and nobody wants to. Every company tells me two things: One, that they don't have the data. But everyone has the data. And two, that they're doing analytics but aren't applying them. We're data-rich but insight-poor."
To gain additional clarity into data-driven initiatives, companies from all sectors can prioritize data quality. For marketing companies in particular, this will ensure they don't waste advertising budgets by sending direct mail or email to incorrect addresses.