Data Quality and Customer Perception
We usually talk about data quality issues like they’re only relevant to businesses. When we talk about data quality issues, we mostly discuss costs and repercussions that affect the business - time lost, costs incurred, and internal errors that wreak havoc on business processes and decision making. However, we need to realize that data quality issues are very much a two-way street. Consumers are also becoming aware and affected by data quality issues - and businesses are starting to take note.
Customers Care About Data Quality
According to an article by The C-Suite, 72% of companies have acknowledged that data quality issues had had a negative effect on customers’ trust and perception of their business. A full 64% of companies surveyed reported that data quality issues are hindering their ability to provide a positive customer experience.
What is this telling companies about the importance of addressing data quality issues? First, we should note the prevalence of this issues. Data quality is something to be dealt with in a variety of industries and within companies of all sizes. Second, addressing data quality can have a huge impact on your internal processes, but it also gives businesses the opportunity to make the business relationship infinitely more positive for its clients.
Data Quality as a Brand Differentiator
We’ll leave you with this: that same article noted that 69% of companies surveyed reported seeing a positive return on investment when they taken the time and money to implement data quality solutions and processes. Data quality saves time and money internally, sure. But data quality should also be thought of as a potential differentiator for businesses when it comes to customer experience as well.