When it comes to business growth, there are a number of aspects that will contribute to the rate that your business will expand. One of the key areas that will impact this is the way your business organises its data.
Although the task can be time-consuming, ensuring your company’s data is clean and organised can have a significant impact on the growth. If, for example, the data your company is storing is of poor quality, the decisions made based on that data can have a negative impact further down the line. This can happen across all sectors of a business from finance to service.
Inaccurate data can have a negative impact on businesses, especially when it comes to customer relationships. Low-quality data can often result in customers and prospects receiving information that isn’t relevant or of interest to them, which can lead to your business being flagged as spam.
Data cleansing can help businesses minimise the amount of low-quality data that they store. By removing or modifying any incorrect, inaccurate, duplicated or unnecessary data, you are achieving higher data integrity which is key for staff members when they make decisions or take actions based on the data to hand.
High-quality data must be accurate, consistent, valid and complete. Ensuring phone numbers are the same across multiple sets of data is important, as well as cross-referencing this with names, email addresses and any other information you have stored for a particular account.
The use of high-quality data can drive faster customer acquisition. Having accurate data on prospects and current customers can help businesses target marketing to specific groups and build stronger relationships that ultimately result in a higher volume of sales.
Decision-making is improved when staff members are supplied with accurate, high-quality data. There is less room for error when data is accurate, as well as a higher chance of decisions and tasks that are a result of looking at data being a success.
Furthermore, high-quality data can save resources. Having a regular data cleanse and removing any incorrect or unwanted data can speed up processing times and also save memory space. Not only this, but it also saves staff members time and boosts productivity. Fewer minutes are spent searching through large amounts of meaningless data, meaning more time can be spent on tasks that will benefit the growth and success of your business.