Why Data Enhancement Means More to Businesses in 2017

Jillian Baker — Mon, 13 Mar 2017 20:20:54 +0000

Big Data Enhancement – More Relevant��Than Ever in 2017

Fast-Moving Means Constantly Updating

Welcome to the��New Millennium!��The world indeed is spinning��faster and faster with each passing day. Technology and Connectivity now surpass anything that we could have foreseen. Indeed, the world has changed so quickly that we’ve��lacked the technology to keep��track of those changes… Until Now!

In recent years, there has been an explosion of��new concepts in a very old industry. I’m talking��about Big Data!

Businesses have been compiling data on��clients for as long as there have been businesses. Once Upon a Time, phone books used to be the best resources available. Today, we have access to more firmographic information than ever before, and the technology to keep those client records up to date, seamlessly.��

Good Practices are Never Perfect

Despite all of the advancements in data technology and data management in recent years, many businesses are keeping their records at the speed and technology of a phone book. Even the most diligently kept records on clients, including phone numbers, addresses, company size and executive contact information etc. will become defunct over time due to the natural, every day occurrences of businesses moving or closing, layoffs, promotions, turnover or expansion.

If your competitors purchase a list of up-to-date contact information for a business you once served, but can no longer contact due to outdated client records, what will that mean for your business? The reality is that even perfect record keeping practices can result in incomplete and outdated data. It’s time to stop wasting resources on Data from paper sources that can’t be easily sourced, edited, updated, or sorted.

Modern Business Requires Current Data

In a world of hyper-connectivity and Big Data, if a business wants to thrive, they have to work like its 2017. That means being as hyper-connected to your customers’ data as your customers are connected to your bottom line. In an era when Current Company Data is Available at your Fingertips, in Real Time or can be appended to an entire client file, there is no excuse for wasting marketing dollars on incorrect or incomplete client records.

In an ever-changing, ever-evolving business environment, those who adapt will thrive. Those companies that are basing their marketing and measuring their business with incomplete and incorrect data are simply going to fall behind. Companies need good data regularly. That’s why an��Ongoing Data Maintenance is a must.

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Big Data in Narrow Silos. Is Data Integrity at Risk?

Jillian Baker — Wed, 14 May 2014 18:28:40 +0000

How wonderful it is, in our technologically advanced society, that we can now integrate data across various platforms and applications!

That is- until we have to reconcile conflicting information. Is the latest entry the most accurate? Has the same customer been entered into the system twice with slight name variations?

According to AmericanBanker.Com, banks plan to spend an average of 5.7% more on data related technologies including data warehousing, mining, and online analytical processing-�� second only to a 6.8% increase in budgets for online and mobile banking improvements.

In recent years, productivity through streamlined data and the vital importance of data integrity have been burned into the pages of a million business strategies. Data is easily gathered and stored by thousands of applications across millions of devices.

The problem? It still takes sentient intelligence to make data-based decisions. How is an algorithm to know which recorded client file is accurate without calling the customer?

Automated data integration causes duplicate entries, inconsistencies, inaccuracies and confusion across the business. Misspellings of names, alternate spellings of names… any number of human errors can contribute to these problems, which an in-house algorithm has little to no chance of integrating properly across platforms.

So what do we do? It’s obvious we need to integrate our records, but how do we reconcile the varying and conflicting records?

Besides training our people to be as consistent as possible in records keeping, regularly cleansing and appending client files may still be your best solution. Not every business can afford to run full credit reports on their business clients or afford the time to look up the full-marketing records of each of those companies in real-time.�� Data Append Technology can analyze a customer file, grade the accuracy of client records, update and standardize each file with up to 3 dozen additional appended single data elements.

Rather than working to gather and integrate the information from each of your silo’ed departments, a business can instead purchase the data from a highly trusted, large database of US and Worldwide businesses in a format that fits your specific needs, using the most basic of initial data available.