Good, Bad and Ugly side of database management
Data is a strategic asset in your organization. It is important, for you to develop a data strategy. Your organization may struggle for effective and error-free data that helps in decision making. This dirty data has a major impact on your company’s growth and entire revenue cycle.
Good
- Managing quality data using a cost-effective and comprehensible solution becomes much easier. Cloud computing offers an attractive choice.
- Segmentation and prioritization of your database helps in segregation of your valuable customer. You can identify different levels of your customer base.
Bad
- Process of collecting data and obtaining and accessing data from multiple sources and channels can be complicated
- Assessing quality of existing data and its degree of reliability and consistency becomes difficult at times.
- Integration of data across various channels is a must for real time marketing. But this can become quite challenging.
- Incorrect, inappropriate, data are examples of unclean data. If this data are used for making decisions it can create critical errors. Poor quality data can cause, a low ROI and excessive expenses for customer communication (mails and missed out sales prospects).
- Lack of security, adherence to growing number of compliances and quality management are reasons, which makes data management more difficult.
Ugly
It is difficult to harness effective, productive information for decision making. Developing a data strategy is a never ending process. Bad or Dirty Data refers to information that can be erroneous and misleading. Eventually it results in a catastrophic effect. To achieve completely error free data from source is impossible.
A recent B2B quality index shows 40% of leads contain bad data.
Let us have a look on the impact.
- Bad data increases higher consumption of resources and higher maintenance cost
- If email address is entered in an incorrect manner it results in errors in mail delivery
- Erroneous data can cause an error in product delivery as well
- It decreases customer satisfaction and retention
- There is negative publicity on social media
- Dissatisfied sales and distribution channel
- Higher number of spam and unsubscribe
- Invalid reports
- Lower productivity
- Loss of revenue
Want to get rid of bad data now?
Data management is the key to keep your data error-free. The best way to get rid of bad data is to have an effective knowledge in quality. There are multiple benefits of data cleansing. It is cost-effective and you do not have to waste money in storing old, outdated data. This improved accurateness can result in increasing your ROI.
Conclusion: Database management systems provide flexibility and scalability to meet the needs of an organization. It is a strong base to make your organization successful. Future of database management is
big. This means that you must capture, store, analyze, and use a plethora of data from new sources to create a multidimensional view of customers.
Email Data Group has a bag full of email marketing integrated services including, B2B and B2C email lists, email writing and designing, email campaigns, campaign tracking and reporting. Contact us at 800-710-4895 or email us at info@emaildatagroup.net and get into a habit of winning.
