The data in an organization is of vital importance and the data entering and exiting an organization must be of high quality so that everyone using it can make better decisions. Many rely on organizational data and therefore effective actions like implementing a sound data quality tool must be executed inside the data management systems to ensure the highest possible quality of data in the organization.
Why Is A Data Quality Tool Necessary?
Accurate and up-to-date data is essential to the organization
Having high quality data in an organization will lead to effective decision making and correct communications with the customers and other related businesses. Let us explain with an example. If the organization has redundant customer data this will lead to promotions or catalogues sent multiple times to the same customer. This might annoy the customer and lead to a hurt reputation of the company. Having correct customer details will lead to effective communication with customers and likely lead to more business.
Data Considered Reliable Today May Change
A good data quality tool has to be implemented in the system to ensure data quality at every point of time. Suppose you have started a company with high quality customer and sales data in your organization. Over time, as your business progresses, more data will be added and a lot of updating and changes will be done with the original data. Therefore, you need to take steps to maintain data quality as changes occur which necessitates a good tool.
Data Cleansing And Data Enhancement Is Necessary
Data cleansing is necessary to detect unwanted data and correct or remove it. Data enhancement makes data complete by adding more related information to it. These data cleansing and data enhancement methods are required to enrich the quality of data and this is done best by a tool that has all these capabilities.
Effective Direct Marketing
Companies can make use of effective and enhanced customer data for direct marketing. Marketing create kits and mailings that will be tailored to specific needs of the customers according to the quality data that describes the customers. This helps in getting a competitive edge with the materials they present to prospects.
A number of studies conducted by data management companies on best in-class companies have shown that the deployment of an effective data quality tool has increased revenues up to 25 percent year over year, and this is no doubt a remarkable achievement!