The goal of data quality is not perfect data: it’s data that’s fit for its purpose. Data, in other words, is always evaluated in the context of how it will be used, with no absolute standard.
A new white paper from the CDP Institute and sponsored by Redpoint Global, “Data Quality for Marketers” explores the pertinent issues that are important for marketers and other business users to understand about data quality. Specifically, the white paper addresses reasons for the ascendance of data quality, concepts that are important for decision makers to understand, steps and processes for instituting a data quality program, technology’s role, and tips to get started solving common marketing data quality challenges.
The paper comes on the heels of some startling new research that shows a deep-seated mistrust of data that prevents marketers and other business users from meeting customer expectations for personalized, omnichannel customer experiences. In the most recent Alation “State of Data Culture Report”, for instance, just 43 percent of marketers say they use data to guide their marketing strategies, and 46% of C-level executives choose gut instinct over data sometimes or always.
Mistrust stems from several factors, as laid out in the white paper. Among them are an increasing volume of data, people, users and the impact from data being used more broadly across departments. With data being used more broadly, any error is multiplied by the number of processes that depend on data being correct. Forrester estimates that 21 cents of every media dollar is wasted due to poor data quality, to name one tangible financial impact.
While technology is one path toward alleviating data quality challenges, the white paper details a roadmap for solving marketing data problems, which include defining data quality requirements, identifying gaps in existing resources, and setting a strategy that includes building a requirements checklist.
Click here to download the complete “Data Quality for Marketers” white paper.