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• 41% see outdated contact information as the biggest issue.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