Data quality is becoming a top priority for information-driven organizations to enable cost optimization, business analytics and new regulatory compliance initiatives (See European data privacy). The problem is that poor-quality data gets in the way and undermines these critical business objectives, the problem can spiral out of control as key users conclude that your data can’t be trusted.
According to a Gartner 2016 data quality survey the average financial cost of poor data quality among those surveyed rose to $9.7 million in 2016. This poses an expensive problem for organizations that deserve your attention.
That’s all great but what can you do about this today? Here are 3 steps you can take right now to improve the quality of your data:
1. Implement Formal Data Quality Metrics
The adage “You can’t manage what you don’t measure” holds true with Data Quality. You need data quality metrics to let you see the health of your database. To understand your data you’ll need to be able to measure the cost of bad data and the value of good data. To do this you should implement formal metrics for data quality. I recommend building a data quality dashboard with reports showing the age of Contacts/Accounts since they were last updated, compliance with populating key data points.
2. Data Deduplication
Data deduplication is a key component of any cleanup effort. Nothing will hurt your data more than having the same person or company entered multiple times in your database. The value of your CRM is having 360-degree visibility into customer relationships, this goes out the window if you have duplicate records in the system and is one of the most important ways to improve your data quality. Jobscience de-duplicates candidates automatically and you can enhance this capability with tools such as Data Trim and Salesforce deduplication rules*. (*Note at the time of this writing salesforce deduplication rules are incompatible with candidates)
3. Email Validation
One key data point that can make or break your outreach efforts is your email addresses. Invalid emails waste your time, money and could even get you marked as a spammer. Luckily there are tools like Brite Verify or Kickbox that allows you to quickly validate the email addresses and let you know which are deliverable and which are not.
There are numerous steps you can follow, so consider working with Jobscience’s Professional Services team to find the best ways we can help you improve your data quality. Reach out to our support team or your account manager for more details