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Is data only as valuable as its accuracy?

Published: July 13th, 2017

Is data only as valuable as its accuracy?

Data and customer lists are important aspects of the businesses guiding them to build the relevant strategy for business growth or offering them a potential opportunity for business, respectively. Hence, it is relevant that the data collected be up to date and free from errors.

However, you have seen how collecting data and fitting it for company requirements is fraught with potential errors. Data cleansing will be handy in here helping to eliminate duplicate information or inaccuracies. For a relevant and consistent data cleansing service, you can look at outsourcing the service to a professional web data mining company.

Solutions for data inaccuracies

It is seen that when two members of a sales team enter the same customer name with different initials, it would be duplication of data. This could lead to more resources being spent on one target because both members would be following the same lead, leading to double the effort and lost time. It could also be that the prospective lead may go cold as a result of overlapping effort. This shows how duplicate data could cause confusion.

The best way to overcome the issue is to follow a standard format or procedure to enter the details of the prospective leads for the business so as to avoid duplication.

Now, other aspect that could lead to data errors or data being deleted is the fact that in most companies, all the departments have access to all the data, so as to increase efficiency, transparency, and productivity. However, this could also lead to someone deleting or unknowingly making changes to vital data. This could be another reason for the loss of a potential lead or prospective business.

One might suggest, limiting the permission to access or edit the information as a way to mitigate this issue. However, this cannot be the only solution for it. The best process would be clean up the data, detect and rectify or remove the corrupt as well as inaccurate records from a record set, table, or database by identifying the data that is incomplete, inaccurate or irrelevant.

You have also seen how CRM systems can speed up and simplify the process of reaching out to the prospective clients, automating the outreach, which however is possible only with the correct contact information. If the data is all messed up and inaccurate, even the best of CRM systems will fail.

How to get quality data?

In the meantime, while it might be difficult to get completely error free data, the requirement for a quality data is that it should conform to the standards that are set for it. At the same time, the factors that are normally considered for determining the quality of data includes completeness, validity, uniqueness, timeliness, accuracy and consistency.

Some of the ways to determine the quality of a data is to reject the error to delete the entry that is inaccurate, correct the error or to rectify the entry or to accept the error if it falls within the acceptable standards.

Key Takeaway: Thus, you can see the importance of data for businesses and its value in terms of its accuracy. However, data management companies with their efficient data cleansing experts know how to process and cleanse the data accurately, so as to help your business prosper and increase the productivity of your sales team.


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