What is poor data quality?
What is the cost of poor data quality?
Inaccurate Decision-Making: It can lead to inaccurate insights and analytics, resulting in flawed decision-making. This can cause businesses to invest in the wrong strategies, products, or markets, leading to financial losses.
Wasted Resources and Operational Inefficiencies: Incorrect or outdated data can lead to wasted resources as employees spend time rectifying errors or working with inaccurate information. This inefficiency can slow down processes and hinder productivity.
Missed Business Opportunities: Inaccurate or incomplete customer data can result in missed opportunities for sales, marketing, or customer engagement. It may prevent businesses from targeting the right audience or personalizing their approach effectively.
Damaged Customer Relationships: The quality of poor data can lead to customer dissatisfaction due to errors in billing, shipping, or service delivery. This can damage the business’s reputation and lead to customer churn.
Increased Marketing Costs: Inaccurate data can lead to ineffective marketing campaigns, wasting marketing budgets on targeting the wrong audience or sending messages to incorrect addresses.