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    What is Bad Data and its Side-Effects? – From ‘Fuel for Marketing’ Series

    Fuel for marketing

    Information and data are the most strategic assets of an organization. The Data Warehousing Institute reports, “Intellectual capital and know-how are more important assets than physical infrastructure and equipment.”</em style=”opacity: 1;”> It is critical to harness business data for effectual decision-making, and this blog series will walk you through the savvies of Big Data, and its impact on your Demand-gen and Revenues. So ready to have some Fuel for Marketing?

    What is Bad Data?

    Developing a data stratagem is no more new. However, many organisations struggle with the accuracy of data underpinning day-to-day decisions. The reason being – the Bad Data. Bad or Dirty Data refers to information that can be erroneous, misleading, and without general formatting. Unfortunately, no industry, organization, or department is immune to it. If not acknowledged and fixed early on, bad data can cause serious coercions.

    Data Survey

    Detail Credits: http://blog.integrate.com/infographic-dirty-data

    How does the Bad Data occur – The Sources?

    Data Source

    How does the Bad Data occur – The Causes?

    Initially, data quality was limited to just the CRM systems. This complexity now lengthens beyond structured customer data. To start fixing the data quality, you need to get inside the niche and know what exactly cause bad data:

    • Missing Data: Empty fields that should contain data
    • Wrong or inaccurate data: Information that has not been entered correctly or maintained
    • Inappropriate data: Data that’s been entered in the wrong field
    • Non-conforming data: Data that hasn’t been normalized as per the system of records
    • Duplicate data: A single Account, Contact, Lead, etc. that occupies more than one record in the database
    • Poor data entry: Misspells, typos, transpositions, and variations in spelling, naming or formatting

    How does the Bad Data affect your Data warehouse?

    “Fortune 1000 enterprises will lose more money in operational inefficiency due to data quality issues than they will spend on data warehouse and customer relationship management (CRM) initiatives.” – Gartner

    Dirty data wreaks havoc on the entire revenue cycle of an organization, and in a need to fill the funnel, bad data is creeping into our marketing automation and CRM systems. The impacts can range from a transaction level loss to catastrophic effect for an enterprise. Let’s have a look at the impacts of bad data:

    • Higher consumption of resources
    • Higher maintenance costs
    • Errors in product/mail deliveries
    • Lower customer satisfaction and retention
    • Increased churn rate
    • Distorting campaign success metrics
    • Failure of your marketing automation initiatives
    • Dissatisfied sales and distribution channels
    • Higher spam counts and un-subscriptions
    • Negative publicity on social media
    • Misinformed OR under-informed decisions
    • Invalid reports
    • Lower productivity
    • Loss in Revenue
    People might respond to a poorly targeted message, but they can’t respond to a message they never get
    David Raab, Demand Gen Expert
    Data Cleansing

    How to rescue your data from getting bad/decayed

    If you have a data warehouse, you will certainly have some form of bad data corroding it. Though avoiding bad data completely from a source is virtually impossible, Data Management is the key to keep your data clean. The next blog of this series (Fuel for Marketing) will help you have a deeper insight on Data Management and Best Practices. By the time, you can have a look at these Quick Steps, which can help you have a cleaner and a more accurate data silo.

    Want to get rid of bad data right now?

    The best approach to beat bad data is to have an effective knowledge of data quality, and a reliable data quality vendor who can cleanse and enrich your data. Data Management experts at Grazitti have helped several organizations like Cloudwords, Marketo, SeeControl, Alteryx and many more to achieve accurate consumer data enabling them to achieve best out of their campaigns. Click here to get in touch right away.