What is the real cost of poor quality data?
We are all aware that duplicate data exists within our companies, but at what cost? While it may be possible to quantify the increased sales and marketing costs associated with poor quality data, the impact on the company image and its interactions with customers is immeasurable.
In a recent QGate survey, results showed that of 15,000 Account records and above there was an average duplication of around 8%. Here are some examples of the wasted costs associated with duplicate data:
Working with poor quality data
Having poor quality data is equally damaging within the company itself. Being made to work with data that is full of data issues on a daily basis can lower employee satisfaction and lead to poor user adoption of the CRM systems.
Whether dealing with poorly captured data, unformatted and unstructured data or generally unmanaged data, companies need the ability to quantify the issues and ultimately resolve them.
Data deduplication technology
When sourcing data deduplication technology it is important to look for the following:
Paribus Discovery has a 10 minute quick and easy setup time and has been designed and built with experience and knowledge ensuring that our customers’ data management delivers the data quality their business needs.
Paribus data matching engine
The Paribus data matching engine hosts a collection of sophisticated data matching algorithms which provide the ability to intelligently identify matches within your business data, regardless of the various data anomalies which often exist.
Whether the need is to identify matching data within a single data system or across multiple systems for systems integration, data warehousing or establishing a Single Customer View (SCV) – Paribus Discovery provides the power to Identify and Resolve your data matching needs. For more detailed information about the power and capabilities of the Paribus Data Matching Engine see this article.
Benefits of data deduplication technology
The cost of cleaning up data can be considerable and are often underestimated. However, the cost of not considering this area seriously will be even greater. Paribus Discovery enables you to identify duplicate data and resolve these duplicates, enabling you to benefit from:
- Improved user adoption
- Improved customer satisfaction
- Increased report accuracy
- Reduced costs overall marketing activities
- Easier compliance with regulatory requirements.
We invite you to experience the power of Paribus Discovery for yourself with a Paribus 365 free trial. With a small investment of time, you will see how powerful Paribus Discovery is in Identifying duplicate data and its ability to Resolve duplicate records.