Data quality is a critical factor for every business organization. High-quality data is crucial for increasing revenue and better serving customers. Today, more and more businesses are relying on outsourced solutions to ensure data quality. Data cleansing services can ensure accurate and valid data for business decision making.
Businesses collect a lot of data, and much of this is a record-keeping strategy. Collected data is preserved for future references in order to achieve a greater aim. However, according to a recent survey by Experian Data Quality, many organizations rely on their intuition when it comes to making business decisions and don’t trust their data for this purpose.
When data is stored using any type of process, errors are ineluctable. Once these errors enter the system, irregularities are bound to happen and dirty data is born. In this data-driven epoch, data cleansing services reduce these errors and promote a clean database.
The 2017 Experian Data Quality report points out the importance of data management practices and need for increased governance in organizations. High quality data can drive organizational success on fact-based decisions, instead of gut instinct. The key benefits of data quality are increased revenue and better customer service.
Factors Determining Quality of Data
The main features of good quality data are:
- Comprehensiveness
- Reliability
- Accuracy
- Validity
- Timeliness
Inaccurate data can affect operations of the entire organization, so getting a hold of the data early is the key to avoid project delays. It is necessary to build a trust in the organization’s data to avoid an information crisis. According to the Experian Data Quality survey, 33% of data management projects slated for next year will focus on data cleansing and 31% on data integration.
A professional data cleansing companies help businesses convert their data into valuable information vital to their operations. Their teams use advanced technology to scrub and cleanse data and put it through stringent checks to ensure high quality output. They help companies maintain standard industry database file formats. Accurate and pertinent business records will drive better sharing of information across departments and improved decision making.
