News
 Don’t
Let Bad Data Affect Your Revenue
Filthy data quality takes a beating out of your
revenue – so says a recent report from a division of
Experian Marketing Services. Find out how much you
stand to lose and how you can improve profitability.
According to the report, U.S. businesses admit to
losing 7.3 percent of revenue due to poorly managed
customer data. On a global scale, businesses
estimate they lose 6 percent of annual revenue due
to dirty data.
Worldwide, 75 percent of commercial businesses
believe they are losing money through missed
business opportunities because they are unable to
quickly and effectively profile customer and
prospect data. The reason – scanty data quality.
In the U.S., this figure is above average, with 77
percent of companies confessing shortcomings in data
quality that are having a detrimental effect on
their bottom line.
The report reveals that in the public sector, 60
percent of organizations worldwide believe that
inaccurate data costs them money in terms of wasted
resources and lost productivity. One in 10 of these
organizations feel that more than 5 percent of their
annual budget is wasted in this way. The main
problem stems from duplicated data and incorrectly
addressed mail.
But all is not doom and gloom. The report states
that companies plan to invest more on beefing up
data management in the next 12 months.
Here’s how it pans out:
Sector Planning to invest in better data management?
Financial services 59%
Leisure, tourism, travel 61%
Retail 60%
Telecom 64%
Public sector 25%
Utilities 59%
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