Data is For Life, Not Just For Christmas

In 2013, UK households spent £22.3 billion on Christmas. This includes £599 per family, on average, spent purely on gifts. Clearly, there’s big money in this season, and every business is out for its slice of the pudding. The data you collect this Christmas will fuel your efforts in the year to come, and the quality of that data will influence your successes and failures. As such, it makes sense to collect that data properly, nurture it correctly and store it responsibly. As the years come and go, your data is certainly getting older, but are you getting any wiser? By next Christmas, almost one quarter of your database will be eroded unless you put a regime in place. Defining Quality, and Consequences We know data is of a good quality when it is fit for purpose. We need to have full confidence in it, and we need to be able to trust that data to support our profitability this Christmas and next. We need […]
By |December 17th, 2014|Blog, Data Cleansing, Data Quality|Comments Off

Is Your CRM Data the Elephant in the Room?

As businesses look to the year ahead, budgets are being finalised and strategy is being discussed. Inevitably, cost savings are on everyone’s mind, and money will be directed at keeping the lights on first. Beyond this, the business will look at operational efficiency, and look at ways of cutting costs and waste. The biggest productivity drain could be hiding away in your customer relationship management (CRM) system. Perhaps you’ve noticed it. Perhaps you daren’t mention it because you know it will be expensive. But your data quality could be the elephant in the room. Why Spend on Data? Data is the new oil. It flows through critical systems; it keeps cogs of your business moving freely from day to day. Data is as valuable and precious to your business as the black gold that powers vehicles and industry. Yet 22 per cent of businesses surveyed by Econsultancy said they suspected a problem with contact information in their database. It’s as though the […]
By |December 3rd, 2014|Blog, Data, Data Quality|Comments Off

Data Quality – The Secret Assassin of CRM?

Gartner says we spent $18 billion on CRM software in 2012, and $20.4 billion on CRM software in 2013. Its vice president of research, Joanne Correia, says that CRM “will be at the heart of digital initiatives in the coming years”. The future is bright for the industry, and businesses clearly see the benefit of CRMs: better returns, better staff morale, increased productivity. However, there’s a silent virus lurking in many CRMs. It’s a virus that slowly gets a foothold in the system, then slowly starts to deprive it of oxygen, choking it until it can no longer breathe. As the CRM starts to suffer, the business starts to falter. It wastes time and money, and it spends more and more time trying to stick a Band-Aid on the problem. So what is the virus? The secret assassin of the CRM? It’s poor quality data. Since the CRM system is simply a framework, the data within it holds the key to its success. Silent But Deadly Over […]
By |November 18th, 2014|Blog, Data Quality|Comments Off

The Only Way to Save Your CRM From Failure

The Customer Relationship Management (CRM) system is now a central focus of many businesses. The CRM is responsible for holding contact details, communications, social media profile data and valuable leads – the data that sales teams live and breathe every day. In theory, the CRM acts as a colossal ‘brain’, or hub: an application everyone can dip into for data. Yet the CRM is, in itself, a framework: a holding bay for data. It cannot function if it is not populated correctly. Yes – everyone uses the CRM, but who owns it? Ask any user, and they will likely say: “not me”. The opposite is true. And here’s the challenge: up to 46 percent of CRM systems are failing. That’s a figure no sales department can work with. But there is one way to turn it around. Causes of CRM Failure CRM systems are central to productivity across organisations. They are also not cheap. Gartner estimates that the CRM industry was worth $18 billion in 2012, and will […]
By |November 4th, 2014|Blog, Data, Data Quality|Comments Off

Data Quality: Cash Drain or Cash Gain?

Solving data quality problems requires investment, and it’s an investment no business can avoid. Poor data quality can lead to compliance issues, legal challenges and increased effort from all sides. Over time, as data (or the information derived from it) decays, inefficiency and inaccuracy becomes a serious issue that can hamper progress throughout the organisation. Customers also have higher expectations and feel more empowered to complain if they don’t feel their data is being handled correctly. According to a 2009 Gartner study, businesses estimated that they are losing an average of $8.2 million per year because of poor data quality. Five years on, we are storing, managing and relying on more data than ever before. It’s more important than ever to mitigate the risk of poor data quality by investing in solutions that work. Fearing Investment Thousands of businesses are now facing up to their responsibilities and investing in data quality software. They must also meet the costs associated with out of date […]
By |October 22nd, 2014|Blog, Data Quality|Comments Off

Data Quality Terms Defined

After 20 years developing data quality solutions, the team at DQ Global are very familiar with data quality terminology. However, many customers tell us that data quality terms can be confusing. What is the difference between enrichment and enhancement? And why do we cross match or automate in our quest for clean data? In this article, we’ll define some of the terminology we use on a daily basis to describe our data quality solutions. Deduplication and Cross Matching: What’s the Difference? ‘Deduplication’ and ‘cross matching’ are often used in the same sentence, particularly in reference to DQ Global’s Match software. But they are not the same thing: they complement each other. Our Match application is technically a deduplication tool in that it locates duplicate records in a database or an application. Match applies various methods to deal with those duplicates. It may suppress a duplicate record, merge it with another record, or flag it up for manual review. Cross matching is slightly different. In medicine, you will hear the term used to […]
By |October 14th, 2014|Blog, Data, Data Quality|Comments Off

Our 9 Ways Data Bureau Services Make Data Cleansing Easy

Data bureau services are data cleansing services that improve business datasets. These services cover all of the processes needed to make data fit for purpose: cleansing, deduplicating, matching and more. Regardless of how your data is used, cleansing is always at the centre of a data quality drive. With data bureau services, we can process data and enhance your data, applying our expert knowledge in data quality to ensure flawless outputs. Bureau Services or Data Quality Software? So how are bureau services different to data quality software? In short, the service and the product are aimed at slightly different customers. While some of our customers want to have full hands-on control of the way their data is cleansed, others use data bureau service as a more affordable and practical option. Depending on the size of your organisation and the size of your data warehouse, either option will work for you. Data quality software is still a great way to invest in long-term, […]
By |October 7th, 2014|Blog, Data Cleansing, Data Services|Comments Off

The Longer You Delay, the More the Data Decay

According to research, between 50 and 75 percent of the success of a B2B marketing campaign is down to the accuracy of the data available. Businesses also rely increasingly on Customer Relationship Management (CRM) systems – software that retains every lead, every sales opportunity and every contact record. But software is only as useful as the data it contains, and good quality, up to date information is the key. Businesses invest thousands of pounds in obtaining leads that allow them to generate profit. But what happens a year later, when it’s time to sell something new? This statistic from Target Margeting Mag, from a 2001 study, proves the scale of the problem: 70.8 percent of business people surveyed had at least one change to their contact record in 12 months. The breakdown of change was: Job or title change: 65.8 percent Phone number change: 42.9 percent Email address change: 37.3 percent Change of company name: 34.2 percent Move from one company to another: 29.6 percent Change of name: 3.8 percent Bear in mind that this […]
By |September 30th, 2014|Blog, Data, Data Quality|Comments Off

Is Open Data At Risk From Poor Data Quality?

Open data is a concept that’s new to many people in the UK. The idea is fairly straightforward. By opening up records used by the public sector, the British public can see how their data is being used. The idea was introduced by the coalition government in May 2010, but has yet to gain traction, and the British public have not yet had the opportunity to scrutinise government spending. In theory, open data should make the public sector more efficient and effective, and it should give British citizens more confidence in the way their tax money is being spent. Local governments are supposed to publish records for all spending over £500, and we should all be able to see figures on crime, civil servant salaries and government contracts. But in order to inspire confidence, people need to see two things. They must know that data is being published in the manner it should be published, and they need to know that data is accurate. According to the press, data quality is becoming a serious risk that could derail the open […]
By |September 16th, 2014|Blog, Data Quality|Comments Off

Is Customer Data Integration vital to business success?

In today’s economy, it is imperative to put the customer at the heart of the business; treating each customer as an individual to maximise lifetime value, coupled with the ability to personalise mailings or to send lifestyle information to the right person at the right time is vital to business success. When you consider that the average business never hears from more than 90% of its unhappy customers, the importance of putting the customer at the heart of the business becomes even more apparent. Customer Data Integration (CDI), or the process of consolidating and managing customer information from all available sources, if properly carried out, ensures that all relevant departments in the organisation have access to the most current and complete view of customer information. Most companies have customer data, possibly in disparate database containers which makes it difficult to manage effectively, resulting in out of date and conflicting customer data.  Although most companies believe having an integrated view of customer data is critical, only a very small percentage of companies actually manage to achieve this. The inability to consolidate data from […]
By |September 10th, 2014|Blog, Data Management, Data Quality|Comments Off