
Jim ConningThe problems resulting from out-of-date, incomplete, missing and unvalidated customer data are broad ranging – from wasted marketing investments and promotional resources through to regulatory non-compliance and customer identity fraud.
At a time when contact and address data can be continuously and seamlessly validated and updated within core business systems, why are bosses putting companies at risk by continuing to use flawed customer information?Data foundation
In the era of big data, the issues of data and data quality have become board level concerns. Yet in the excitement of capturing customer tweets and real-time web site interactions, too many companies continue to overlook the cornerstones of customer data: contact and address data. A recent survey commissioned by Royal Mail Data Services revealed the general quality of this essential dataset is poor. Almost two thirds of companies admitted to having out-of-date customer information, while 62.8 per cent had incomplete data and 60.1 per cent were missing data such as components of the address. Whether information is being used to drive operational performance and efficiency or to support strategic decision-making, the quality and consistency of customer data is critical. From initial point of data capture, customer data propagates critical business systems such as billing, CRM, marketing automation, and ecommerce. Failure to accurately capture and validate customer data from the onset will only lead to problems down the line. For example, how can a company ensure essential customer communication arrives at the right place, at the right time, addressed to the right person? Avoid expensive wastage of marketing and promotional activities? Or feel confident that they’re compliant with evolving data usage regulations?Data on the move
From the top
The inaccuracy within organisations’ customer datasets is not solely the result of a mobile population – far too many fail to validate information up front. Customer data needs to be accurate from the first moment it is captured. Whether via the website, call centre or face to face interaction, using automated address data capture and validation tools is key to ensuring information is accurate and complete from day one.Conclusion
Improving initial data capture by automatically validating customer information when it is first collected is a fundamental component of creating a complete and accurate customer data quality strategy. High quality customer data plays an instrumental role in the facilitation of informed business decision making. It also brings the added confidence that communications can be targeted effectively and marketing investment spent intelligently. Maintaining clean, up-to-date customer data does seem a small price to pay for avoiding risk and building strong, sustainable customer relationships.Jim Conning is MD of Royal Mail Data Services.
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