Data Quality in Your Business
The Significance of Data Quality in Your
Business
Change is the only constant thing in life. Everything around us changes and so does the Data you use for business entailing contact phone numbers, email addresses, and so on. Data used by you maybe a month ago become obsolete quickly and the requirement of new data arises for better decision-making. In such cases, you need to keep a track of your data by a thorough analysis that removes bias and uses historical data to create actionable recommendations and predictions for the future. This process of keeping a track of data and updating the changing data referred to as Data Quality Management.
Maintaining
the data quality of your business is unquestionably important to stay
competitive in an increasingly digital landscape. It has been also studied that
poor quality of data can cost a business $9.7 million annually. Poor quality of
data results in a 20% decrease in employees’ productivity and explains why
40%-42% of business initiatives fail to achieve desired goals. Poor data
quality not only ruins the business reputation and misdirects resources but
also slows down the retrieval of information, and result in false insights and
missed sales opportunities. For example, if your business is using a poor
quality of data entailing incorrect contact name or email address of a lead or
a customer, then your marketing emails could go to the wrong recipient that
results not only in time wastage but it also puts a question on your brand
image.
Data
quality matters to your business a lot especially when engaging in a merger or
acquisition; in such cases, you need to unify disparate data sources under
common data standards and technologies. Besides this data quality also plays a
significant role in any enterprise resource planning or customer relationship
management.
But now the question is how to maintain the data quality? In order to achieve this objective, you must have a robust team of Data Analysts who guarantee data quality. Generally, data issues happen due to the mistakes made by employees during data entry or if any software error occurs then data problems come into the picture.
Data
analysts examine these issues and analyze the accuracy of data which is
referred to as data profiling. This process involves removing outliers and
irregularities in the data. It ensures there are no missing data fields and
information has been registered correctly. The major aspects that cause poor
data quality entail inconsistent formatting of dates and numbers, unusual
character sets and symbols, duplicate entries, and different languages and
measurement units. Data analysts while profiling a large volume of data go
through various procedures like constructing data hierarchies, rules, and term
definitions to analyze the interrelationships between types of databases. Data
profiling rules are simple like contact’s full name must be capitalized and
consist only of letters. Thus, data profiling keeps a track of the number of
entries that meet the rules and in this manner, it checks if the results are as
per the threshold required by the business.
What is Social CRM and how is it different from traditional CRM?
As we are already aware of how CRM software is
continuously changing the world of sales and marketing. It has been also found
with the pace of time in the last decade that most of the users are using
social media platforms. To entice such users many businesses are also using
social media platforms, in such cases to connect with users on social media
platforms Social CRM comes into the picture that simplifies the job of
connecting with new leads and building seamless relationships with existing
clients. Traditional CRM software was all about streamlining and automating the
lengthy and tedious manual tasks but the social CRM harnesses the power of
artificial intelligence that helps businesses to connect with new leads and
existing customers effectively based on their buying preferences and behavior
also helps in connecting with consumers on social media platforms.
What are the best subject lines you have used for email marketing affiliate marketing, etc.?
When you integrate email marketing with CRM then it gives your business a new approach to connect with your leads and existing customers effectively that is more based on their buying preferences and behavior. It encourages a more personalized way to connect with leads and existing customers. When you integrate email marketing with CRM it also offers you certain readymade email templates that encourage personalized content with some effective email subject lines that directly hits the consumer’s needs. Some of the best subject lines can be like- “Here is the solution to your Problems” or “Try using this to boost business growth”. So these are a few subject lines that hit the need of consumers that can be used for email marketing, affiliate marketing, etc.
What is B2B consulting services sales like?
B2B consulting services that are into sales deal
with many products and services that help businesses in boosting the sales
process. One of the services can be selling B2B data that plays a vital role in
connecting with the key decision-makers of other businesses. The accuracy of
B2B data plays a pivotal role in the success of any business today that helps
their sales and marketing team in channelizing various processes like lead
generation, lead nurturing, and lead conversion. Thus, B2B consulting services
that are into sales help businesses in channelizing business sales process
through various advanced technologies.
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