Many companies have searched for decades for accurate data in order to be able to provide key information for making board-level decisions. Some of the areas for which accurate information is needed include where to launch new products and how to keep repeat customers and maintain or expand market presence. If the data is inaccurate, these decisions can, in many cases, make or break a company.
In the U.S. alone, the cost of bad data to companies is over $3T per year!* With the amount of data expanding exponentially due to the cloud, the internet of things, mobile devices, autonomous vehicles, and other sources outside of the traditional data centers, the challenge of getting clean data is rapidly becoming much more difficult. Based on several surveys of U.S. corporations, the cost of each incorrect record is $100. For example, a company with only 50,000 incorrect records incurs a cost of $5M to maintain them. But when using our products to verify and clean these records, we’re seeing, on average, an ROI of 800 percent!
There are several other ROI benefits to using Naveego in this fashion. They include the ability to get your company’s data cleaned rapidly in order to provide the business with clean data for use in ERP, CRM, or analytics applications for deploying new applications or major releases. For example, clean data feeding your analytics provides your executives with the ability to make accurate decisions, which in turn could result in a positive impact for the business amounting to billions. On the other hand, feeding analytics applications bad data could cost your business billions due to making the wrong decisions.
There are many products on the market that were built 20 or 30 years ago during the legacy era and that are trying to re-architect themselves for today’s very different world. Today’s products, however, need to be built “cloud first” and have the capability to support legacy environments as well as the new architectures. They also need to have a very low entry cost and a short time to value.
Since the challenges mentioned earlier will continue to eclipse those of today, companies simply cannot afford to wait for teams of consultants to deploy their products over months or years. Naveego can deploy in minutes and show value in a 30-day window using English-like instructions. That means your company can spend less time cleaning data and more time gaining value and leveraging the knowledge of your most valuable resource – people.