Bad data runs rampant throughout many organizations, ranging from incorrect information, missing information, inaccurate information and outdated data. This bad data can be more than a thorn in your side — it can actually hinder your business success, and cost you a ton of money.
According to this EBiz article, on average, corporate data grows at 40% per year, and approximately 20% of the average database is dirty. If nothing is done, you might be shelling out as much as $100 per dirty record, according to Sirius Decisions.
The $100 per bad record is attributed to impacts such as:
- Printing and mailing to bad addresses
- Emailing to wrong addresses
- Losing disgruntled customers
- Taking up extra server space with duplicate records
- Sales conflict over the same leads
- Inability to track lead source
- Incorrect marketing segmentation and personalization
- Unnecessary marketing automation & CRM costs for duplicate records
Keeping the $100 per dirty record in mind, and using a 100,000-record database, check out the astronomical cost of bad data (as well as clean data) in this infographic.
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