Data is the life and blood of most businesses. It is the foundation of gaining a competitive edge in the global market space. It’s a universally acknowledged fact that data-driven businesses perform far more efficiently in comparison to other business. However, one of top most challenges that impede results for data-driven businesses is data decay.
You might own a large amount of data but this alone will not get you desired results. Data decays constantly, at about 6% every 3 minutes and can rob you off those golden business opportunities.
One of the best ways to safeguard your data is through Data Verification.
Data verification is a necessity today. It ensures that your data is up-to-date, clean and credible. It helps bringing in quality leads and ensures complete marketing success, whether it’s email, phone or social media campaigns.
Though the need for data verification has rapidly increased, many organisations are unaware of the right techniques that can bring in higher efficiency. One of the best ways is to leave it to the data experts who can verify your data and show you other ways through which you can optimise your business through data.
Data verification is a process that ensures data is true to its original source. The process is carried out to ensure that data is correct and error-free.
Manual techniques are usually expensive and time consuming in comparison to the automated techniques that are faster and more cost effective.
Proof Reading- This is a manual process that involves matching the data with the original document. This process is also carried out by printing the input data and sending it back to the source of the data to check for any discrepancies.
Double Entry Checks – Also called Double-Keying, this is a process where the data is re-entered and both the copies are compared with each other to check for any in congruencies.
Crowdsourcing – Is a popular community-driven concept where users contribute all the data such as phone numbers, email addresses and social media profiles. It’s a credible source of information through which large amounts of data could be collected and put to good use.
Change sourcing – As an extension of crowdsourcing, companies encourage users to share data as well as constantly update the information provided and the process is popularly known as change-sourcing.
One of the latest additions to data verification techniques is cloud based verification systems that can take the verification process to a whole new level. It is of huge value to the management of CRM systems in particular and also companies with large amounts of data that need to be upgraded constantly to run the business successfully.