Data quality is not a ‘sure-it’s-a-good-addition’’ element in your business cycle but an absolute ‘we-cannot-function-at-optimum-without-it’ element. Data quality starts its role at the very beginning of your business processes and influences every area of your business growth, be it a decision to expand, locate a new market, change marketing strategies, decision to enforce new cross-selling or up-selling strategies, etc. For the same reason, just collecting data doesn’t serve the purpose, data quality assurance (DQA) is required to determine the reliability and effectiveness of data.
Some of the benefits in scrubbing, parsing for standardization & enriching, eliminating inconsistent data, enforcing rules, de-duplicating, and maintaining healthy, quality data are as follows:
- Provision of high-quality, dependable data for a wide range of business enterprise initiatives
- Source of business intelligence for early fraud detection and prevention
- Reduction in effort needed for upgradation and integration of customer management, lead management, data governance and other key MDM activities
- Identification of premium customers for further up-sell or cross-sell strategies
- Detection of levels of customer loyalty
Every company has the potential to grow big. But several don’t reach their potential for lack of quality data for educated and timely decision making. Low data quality leads to low quality decision making, increased chances of fraudulence, lack of understanding of key revenue generators and opportunities, decreased RoI, etc.
Be proactive today. Decide to make your data work for you and not against you. Discover, scrub, deduplicate , profile, cleanse, standardize, and enrich data to pump a healthy blood-flow of intelligence to all extremities of your business body. Take a decision to chose health and growth thru clean data.