Looking at the most successful businesses today, there will likely be several themes that they all share. Particularly in their marketing departments, where data quality has become one of the most valuable parts of the job. But how has that happened and why is it so true? Let’s take a look.
Good data should be accurate, relevant, consistent, up-to-date, valid, timely and complete. If it ticks all of those boxes, that’s good quality data. That data can lead to the marketing department (and the company as a whole) making more-informed decisions. One such decision is who the audience being targeted is. Knowing who to target and who would be most interested in the products or services of a company is crucial to success, and good data leads directly to that.
Improved data quality also gives better information and can lead to better relationships with customers. Taking the customers interests and needs into account will make them feel valued and even more willing to come back. This data quality, in turn, can give an advantage over competitors who are in the same market. Nobody wants tougher competition, so why not make it easier with this higher data quality?
At the end of the day, the data quality affects how much profitability a business can have. Business leaders make better, data-informed decisions and can sell to customers more effectively. Since that is the inherent purpose of a business, it seems that higher data quality should be a no-brainer. So why not hop out there and start improving the quality of your data?