Today’s data application platforms like CRM and Marketing automation are merely containers. Useful and necessary yes, but it is the data these systems contain that is the true treasure. Since data decay is essentially a natural law, and today’s database platforms have terribly inadequate native features for ensuring quality data management, forward thinking companies are increasingly focused on data quality improvement. Without a persistent focus on the management of data quality, marketing, sales, management analysis and decision making are all doomed to underperformance without a reasonable chance of operational excellence.
Benefits Of Quality Data Management
- An organization can leverage data quality in order to achieve higher sales, improve customer satisfaction and service, reduce time required on manual processes, ensure the accuracy of reporting and general business intelligence
- Accelerate revenue
- Achieve and sustain high performing marketing campaigns
- Reduce frustration from poor CRM user experiences caused by poor quality data and facilitate User adoption of CRM
- Reduce the need of marketing and sales professionals to spend time in the role of data janitor, enabling them to focus on selling and marketing
- Enable better analytics and all-around business intelligence facilitating better planning, decision making and execution
- Deploy automated processes to prevent the creation Salesforce duplicates, the bane of quality data management professionals everywhere
The Challenges That Result from Poor Data Management And Low Quality Data
When data quality management is ignored a wide range of negative results inevitably occur in an organization, such as:
- Bad decisions will be made due to poor quality of data and poor data management processes. Peak revenue performance is impossible without success in quality data management. In extreme examples, as in the case of airplanes that run out of fuel due to faulty data, true disaster can ensue.
- Automated processes can halt or cannot be implemented if bad data is present in the organization. Process automation in the organization relies on high quality data that is clean and consistent. If the quality of data is poor it can disrupt these processes.
- Reporting is done poorly and inefficiently if the organization’s data is poor. A common reporting system cannot be implemented at various levels of the organization due to the absence of quality data.
- Great efforts will be required for improving data quality like deploying Salesforce data cleansing tools and other quality initiatives.
When enlightened managers consider the benefits of
data quality improvement and weigh the disadvantages of a failure to focus on quality data management, the inevitable conclusion must be to establish a data quality management system in the organization.