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© 2011 Experian Information Solutions, Inc. All rights reserved. Experian and the marks used herein are service marks or registered trademarks of Experian Information Solutions, Inc. Other product and company names mentioned herein are the trademarks of their respective owners. No part of this copyrighted work may be reproduced, modified,or distributed in any form or manner without the prior written permission of Experian.
Data Quality Survey Review:Collecting Accurate Contact Data in a Multichannel Environment
Wednesday, August 17, 2011
Teleconference:
Dial-in: X
Passcode: X
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Welcome!Introductions and Overview of Today’s Session
Experian QAS findings from June 2011 research
► Review research findings
► Discuss interesting trends within and across markets
► Provide tips for improving multichannel contact data quality
Today’s speakers:
► Erin Haselkorn
● Marketing Programs and Data Quality Research Specialist, Experian QAS
► Product Manager
● Product manager
► Courtney Fulton
● Marketing Programs Manager, Experian QAS
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Key Takeaways
Channels of communication are diversifying
Current accuracy levels are low
Manual cleansing processes are common
Consider all channels for cleansing
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Research Methodology
December 2010
1,320 respondents from 7 countries
Produced by Dynamic Markets
Multiple industries
250+ employees
C-level executives, vice presidents, directors, managers and administration staff
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Data Quality Matters
87% of U.S. businesses have a documented data quality strategy
► Data quality strategies are most common in the U.S.
Companies improve contact records to:
► Increase efficiency
► Enhance customer satisfaction
► Generate revenue
APAC is more focused on informing business decisions
The financial industry wants to improve contact records to comply with regulations
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Data Quality Matters
Revenue Generation Cost Savings
Increased Efficiency Brand Protection
Customer Satisfaction Customer Profiling
Enable Informed Decisions Compliance
Reduce Risk/Fraud The Environment
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Low Level of Accuracy
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Low Level of Accuracy
89% suspect customer/ prospect data inaccurate in some way
24% of total records inaccurate
U.S. most confident; APAC region least confident
Education was least confident; utilities and financial services are most confident
79% experienced at least one negative consequence in the last 3 years from data accuracy issues
► 87% wasted departmental budget
► 30% negatively impacted customer perception
► 26% lost a potential customer
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Reasons for Inaccuracy
0 10 20 30 40 50 60
Percentage
Don't Know
Other
Human Error
Inadequate Data Strategy
Inadequacies in CurrentRelevant Technology
Lack of Relevant Technology
Lack of Internal ManualResources
Insufficient Budget
Inadequate SeniorManagement Support
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Current Strategies
87% manage data accuracy in some way
73% of U.S. businesses use at least 1 manual process, compared to 64% globally
81% of organizations upgraded data management systems in the last 2 years
$-
$1
$2
$3
$4
$5
$6
$7
$8
$9
$10
Mil
lio
ns
in U
.S.
Do
llar
s
The UK The Netherlands France The U.S.
Australia New Zealand Singapore
Return from Data Quality Improvements
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Current Strategies
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Current Strategies
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Find the Right Contact Data Quality Tool
► Review data usage
► Examine entry points
► Evaluate data errors
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Demonstrate ROI
► Set objectives and benchmark current performance
► Establish target metrics
► Communicate vision to stakeholders
► Evaluate based on metrics
► Present results to stakeholders
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Summary
1. Businesses are investing in data quality
2. Significant uplift is seen from improving data quality
3. Organizations rely too heavily on manual processes
4. Evaluate data prior to choosing a solution
5. Demonstrate ROI and make sure the solution is working
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QASProducts & services
Real-time verification
Address
QAS Pro QAS Pro On Demand QAS Pro Web QAS Pro API
Phone and Email
QAS Phone QAS Email
Clean & enhance
Clean
QAS Batch
QAS Bulk Processing
Phone & Email Batch
Enhance
QAS de-duplication
NCOALink®
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Questions
?Submit your questions now!
Questions after the event?
Email: [email protected]
Call: 888-727-3985
Visit: www.qas.com
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Please visit www.qas.com for more information.