Data Quality and Digital Marketing
Data quality has become an increasingly important across a diverse range of industries of late. Companies in the energy, financial, and healthcare sectors have made strategic decisions to embrace the positive impact that data quality solutions and processes provide. With the emergence of digital marketing, however, data quality has become a hugely important component of working in that space. Digital marketing is a microcosm of the data-driven age which we live in, and its reliance on data quality is worth watching regardless of your industry.
Digital Marketing: A Quintessential Data-Driven Endeavour
The reasons for this movement towards data quality are many, but one statistic from a SmartBrief white paper should tell us a lot. A full 70% of marketers believe that the customer data they use to form their marketing initiatives are of low quality or inconsistent. When marketing budgets are limited, being less than confident in your data undermines campaigns and sets agencies up for failure.
It can be of little surprise that more respondents in the SmartBrief survey cited data quality services and solutions as the number one priority for investment over the next twelve to eighteen months.
Incentives to Address Data Quality
I’ll leave you with this fascinating assessment from Forrester. They estimated that just a 10% increase in accessibility to clean data results in an incredible $65 million in additional income for the average Fortune 1000 company. Clearly, the ROI associated with data quality initiatives is plain to see. Now is the time for more companies to take action to gain a competitive edge over competitors within the industry.