Data is important in today’s marketing world. It is collected and used for almost everything from advertising to educating. However, incorrect or faulty data can bring false information and unwanted results. This happens due to poor data quality. Bad data leads to wrong decisions and strategies, ultimately hurting your business. Improving data quality improves results and ensures you target the right market at the right time.
What is Data Quality?
Data quality is the degree to which data meets a company’s expectations. It should be accurate, valid, complete, and consistent. However, over time data becomes dirty or corrupt. This leads to incorrect decisions and strategies. Keeping data clean is the best way to keep it accurate. Businesses can pinpoint potential issues by tracking and measuring data quality.
Data is measured by accessibility, accuracy, completeness, consistency, timeliness, uniqueness, and validity. It is time-consuming and costly to do all this analysis on your own. The good news is you don’t have to. There are various platforms available to measure data. BlockDrive Inc. has experience in data management and has developed a tool to measure the quality of your data. We improve reporting and highlight specific issues in the data and where to fix it.
Steps to Improve Data Quality
1. Focus on Most Important Data
It is impossible to fix everything at once. By narrowing down the most important data that supports your business, you can understand where the pain points are and where to start fixing them.
2. Identify the Size of the Problem
Once you identify where data quality is straining the system and strategy execution, it is time to identify the size of the problem.
3. Merge Data
While auditing the system, make note of fields that can be joined or deduplicated. Merge customer data into a single profile rather than separate entries.
4. Make Change & Take Action
Now that you have identified the issues and know what departments are struggling, it’s time to make the change. Implementing an improvement program may be costly in the beginning, but by improving data quality now, your business will run smoother in the future.
Improving data quality will save time and money in the future. You will spend less time reworking processes and gain faster access to data and insights.
Accurate data results in better marketing. This means reaching your target audience and getting more customer engagement and sales. As a result, there is more accurate sales planning and forecasting.
7. Risk reduction
Improved data means better decision making which leads to brand trust and loyalty. In turn, there is more accurate reporting.
8. Strategic capabilities
Your staff will be more satisfied, and you will be able to implement better systems, like AI and Machine Learning.
Now that you understand why data quality is important, it is time to implement the improvement process. BlockDrive Inc. helps identify tangible and intangible data quality issues using our AI and Machine Learning platform. This helps with data Improvement so you can fix dirty data and get back to running a smooth business.