‘Data quality’ can be quite a daunting prospect.
In a recent study, 94% of organisations surveyed revealed they suffer from common data errors.*
So if you think data quality sounds scary, you are not alone.
Research we commissioned recently found that 73% of people have been affected by inaccurate data in the last year. 35% of those surveyed had less faith in that organisation to do a good job and 47% say it leaves them feeling frustrated and annoyed.*
Our research demonstrated how capturing data is becoming increasingly difficult. The average adult has 4 email addresses, 2 mobile numbers and have lived or worked at 8 addresses for more than 3 months.* This highlights just how important it is for businesses to capture and maintain their data to ensure they retain their customers and differentiate their services.
Don’t be tricked by your data.
These statistics might sound scary, but it needn’t frighten you as much as you think. Make sure you have a solution in place so you can capture, manage and use your data whilst ensuring its integrity over time.
Gavin Sumner, Head of our Retail Sector at Experian Data Quality knows too well his customers’ data challenges. ‘Dealing with the retail industry, one of their most common challenges lies with ensuring the validity of postal addresses, email addresses and mobile numbers. In such a competitive environment these organisations cannot afford to get it wrong.’
Customers nowadays are more and more empowered when it comes to choosing the organisations they spend their money with. Common data errors are avoidable so get it right and it will play a key part in meeting your customers’ expectations as well as protecting the reputation of your business. Good data quality these days isn’t just a nice to have; it’s something your customers expect from you.
Manage your data ghouls and manage your customers’ expectations. Or get it wrong and you could scare your customers away.
*The Data Advantage, Author: Dynamic Markets, Publish Date: January 2013
*Caring for Customer Data Research, Author: Loudhouse, Publish Date: June 2013