The Well-Oiled Data Machine


The Well-Oiled Data Machine

The inner workings of a business are dependent on good, clean, quality data; it’s the oil that keeps the business cogs turning! our most recent research reveals common data quality issues in organisations.
99% of companies have data strategy but common issues and errors are damaging data quality.

Research shows business are experiencing data breakdowns.

  • 44% say incomplete, missing data is the most common problem.
  • 41% see outdated contact information as the biggest issue.
  • 86% Suspect their data might be inaccurate in some way.

Business machine can’t be efficient when…

  • 75% Of companies waste an average of
    14% Revenue due to bad data quality.

Multi-Chanel strategies are increasing the room for error.  

  • 49% Say it’s their website.
  • 52% Recognize the call center as the most problematic channel

But what is the root cause of data errors?

  • 59% Human error
  • 31% Poor communications
  • 24% An inadequate data strategy
  • 22% Lack of resource
  • Insufficient budgets

The impact translates to…

  • Having problems when generating meaningful business intelligence.
  • Not having enough information about customers

Interestingly…

  • 38% Use point-of-capture solutions to verify entered information
  • 34% Use dedicated back-office software to clean new data.
  • 23% Of companies depend on manual methods to check their customer data

What are the main outputs businesses want from their data machine

  • 62% increase efficiency
  • 54% Better customer satisfaction
  • 44% Cost savings
  • 43% increased opportunities through customer profiling

 

 

 

 

 

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