Ensuring organizations have the most accurate data is important to business success. Through data, organizations connect with their customers in numerous ways. Data can include customer contact information including addresses, demographics and products and services.
Data Quality may become affected due to failed data imports, key entry mistakes and typos as well as outdated customer contact information and addresses. When information is inaccurate, such as a wrong address, it causes miscommunication with customers, increasing overall communication costs for the company. Without good data, organizations are unable to effectively reach customers.
Here are a few other ways poor data can impact an organization:
1. Duplicate printing, postage, paper and re-mailing costs due to incorrect addresses
2. Fines on discounted mailing within the US
3. Address correction fees within the US
4. Late invoice payments from customers
5. Unreceived orders or misplaced mail for customers
High-quality data enables organizations to increase business by allowing them to have the right information for effective marketing. Having correct information, as it relates to each customer, allows organizations to target the right customers, connecting them to products and services that best fit their needs. Doing so also improves customer relations, enabling organizations to know customer preferences while communicating to them. This keeps from sending unwanted wanted mail as well.
Ultimately, having good quality data greatly benefits organizations and is a key component to increasing sales, giving organizations an advantage over competitors.