Gain better customer insight via improved data quality

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Experian Public.

Gain better customer insight via improved data quality Erin Haselkorn Analyst and Public Relations Manager, Experian Data Quality Basil Brown Pandora PreSales – Technical Lead, Experian Data Quality

2 © 2016 Experian Information Solutions, Inc. All rights reserved.

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Introducing our speakers

Erin Haselkorn Analyst and Public Relations Manager,

Experian Data Quality

Basil Brown Pandora PreSales – Technical Lead

Experian Data Quality

Today’s agenda

Building customer relationships through better data

Trends in data quality challenges

How is data management evolving?


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Methodology

Company Size Industry

1,400 individuals from eight countries across retail, financial services,

telecommunication, manufacturing, healthcare, public sector and more, took part in an interview during November 2015

250 - 499 23%

500 - 999 27%

1,000 - 4,999 28%

5,000 and over 22%

6%

2%

2%

3%

4%

5%

5%

6%

6%

8%

9%

12%

14%

19%

Other

Legal services

Leisure / hospitality

Utilities

Transport & travel

Education

Other public sector / Government

Health

Banking / financial services

Business services

Retail

Manufacturing

IT / telecoms

Building customer relationships through better data


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What’s driving the data obsession?

The biggest drivers behind gathering insights from data are customer related

39%

Finding new customers

Retaining customers

38% 37%

Understanding what customers

want

36% Growing the

business


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The focus on big data

Over half of U.S. businesses already have a big data strategy in place!

Polling Question


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Working towards a single customer view

97% of businesses are looking to achieve a complete view of their customer


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Data collection processes

On average, organizations collect data from 3 different channels


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Why bother with a good data strategy?

Because we’re incorporating technology into every aspect of our lives

Polling Question

Trends in data quality challenges


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Inaccurate data

Most companies today have seen an increase in the amount of data errors.


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Biggest causes of inaccurate data

23% of all customer or prospect data is believed to be inaccurate


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Internal challenges

94% of companies have internal challenges when trying to improve data quality


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External challenges

Research overview Almost half of businesses struggle with data capture and validation

How is data management evolving?


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People, processes, technology

Research overview 78% believe data management is driven by multiple stakeholders

75% believe the quantifying and measuring of data is done departmentally

79% believe data quality responsibility should lie with the business users


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Data quality sophistication curve

Research overview


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Centralized data ownership and management


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Catching up – hiring data professionals

82% of organizations are hiring for data-centric roles as part of their

data management strategy


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Data management projects in the next 12 months

Research overview The top two data management projects deal with cleansing and integration


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Data management five-year evolution

Data management projects will concentrate most on improving CX


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Key takeaways

Businesses get in their own way

The right people aren’t assigned to

address data challenges

Rise in data management

initiatives

Thank you! Stay connected with us for up-to-date insights:

[email protected]

@ExperianDQ

Https://www.edq.com/blog/

To learn how to improve your data management, check out: Creating an ideal data quality strategy

mailto:[email protected]

https://www.edq.com/blog/




https://www.edq.com/white-papers/create-your-ideal-data-quality-strategy/

Gain better customer insight via improved data quality

Technology

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