Companies are investing in data to gather valuable insights, but they might actually get stuck with just information if they don't have data quality tools in place. Nearly 70 percent of those surveyed by Infogroup Targeting Solutions and Yesmail Interactive said they plan to spend slightly more on data-related marketing this year.
However, analytics-based strategies might be hindered by poor quality control, the poll also revealed. Over 25 percent reported they can't remember the last time they screened for data quality and 13 percent said cleaning content was one of the biggest struggles they faced. The actual process of analyzing information was another challenge that was cited by 25 percent of respondents.
This last finding may be the result of poor data quality and address management. According to Business 2 Community, filtering higher volumes of content in databases doesn't necessarily make up for losses in accuracy. In fact, gathering a larger source of information that may contain unreliable information only makes it harder to spot those valuable needles in the haystack, and users may find it's more difficult to leverage data for targeting efforts. Instead, firms may end up with inaccurate customer profiles that lead marketers astray, wasting money on misguided tactics.