One of the biggest problems that we hear from our clients/prospects is a growing lack of trust in data quality.
Data is at the core of business decisions so its accuracy is key. When we don’t believe that it is correct, or managed properly, we often choose to rely on our “gut” (our previous experiences) instead. How is that working for you?
While data may never be the sole driver for our decisions, it is necessary in today’s real time personalized reaction to a consumer demand.
Our lack of trust stems from:
- Dirty Data—duplicates, address stacking, incomplete or inaccurate
- New sources of “different data”--what does this mean?
Often it is easier to dismiss it than to correct/understand it. However, neither cleaning nor interpreting data is impossible. It simply demands a system of data hygiene best practices:
- Address standardization
- Address element correction
- Move data-both USPS and proprietary applied in specific sequence
- Dupe logic for identity resolution
- Hyphenated Last Names
- Foreign Names
- Nicknames
- Mis-keyed web registration names
- Deceased suppression
Next, analytics based on methodology and experience must be used to create processes that extract “actionable data” from the massive flow of data points rushing at us.
Descriptive Segmentation
Predictive Propensity
These critical analytical actions require appropriate staffing and there is a massive shortage in trained personnel.
Once we can rely on our data we will able to ask better questions and make better business decisions.
Big Data, in the cloud, processed with AI-machine learning. Wow!
At the end of the day, cleaning and gaining insight from data in a meaningful way is not easy. It requires the proper people, processes, and technology.
There is not one quick solution. Data is Hard! Nevertheless, it drives Return on Investment.
For more information on data hygiene click here.
