Database Slideshow: Bad Customer Data is Common, Costly
There's a lot of bad data out there when it comes to valuable customer-contact information. Maybe it's a database in which 23 percent of the home addresses aren't valid anymore. Or one with outdated area codes. And, of course, let's not forget good, old-fashioned data-entry errors caused when busy call-center employees input typos. Whatever the source of data dysfunction, it often falls to you and your IT team to fix it. A new survey from Experian QAS reveals that organizations realize that data problems exist, and are taking systemic steps to take corrective action. Still, given the economy, progress is sometimes stalled. "While contact-data quality is becoming a priority as businesses focus on customer loyalty and retention, stakeholders are finding difficulty implementing projects due to cost constraints," says Joel Curry, chief operating officer, Experian QAS. "To overcome this obstacle, organizations should review common-quality issues with data and prioritize projects based on their positive return on investment." An estimated 300 organizations participated in the Experian QAS Data Quality survey, with CIOs, IT managers/directors and other top executives taking part.