Research commissioned by Dun & Bradstreet revealed 46% of business decision makers don’t have the right technology to take advantage of their data. Additionally, 42% claimed their organisation has suffered as a result of having inaccurate data. This has lead to 19% saying they have lost customers because of possessing incomplete or inaccurate information about them. Data is your company’s most valuable business asset, therefore, check out these benefits of cleaning your data with a cloud-based solution:
1. Helps You Become GDPR Compliant
According to Egress, 52% of UK companies are still not fully compliant with the GDPR which came into effect in May 2018. A further 37% have had an incident reported to the ICO, and out of that number 17% have had to do so multiple times.
In recent months we’ve witnessed the aftermath unfold of the British Airways and Marriott International data breaches. The cyber-security attacks which affected the personal data of 600,000 customers and 339 million guests, respectively, leaves both companies facing a combined fine of over £282 million.
Cleaning your data regularly will help your business with compliance. Checking your records against Mailing Preference Service (MPS) and Telephone Preference Service (TPS) files will enable you to remove any non-compliant records from the your database.
2. Improves Decision-Making & Increases Productivity
The amount of data in an average B2B organisation doubles every 12-18 months. Whilst this may be clean to begin with, business data decays on average by 37% a year and consumer data by 13%.
Studies show that data-driven organisations are 23 times more likely to acquire customers and six times as likely to retain them. Additionally, they are 19 times more likely to profit from data-driven analytics. Becoming more data-driven and having clean data will help improve decision-making, which can ultimately have a positive impact on the customer experience and subsequently business performance.
Cleaning your data through a cloud solution will also increase your businesses productivity, as the long hours dedicated to complex installed solutions will be eradicated by the seamless cloud experience. An Office 365 study revealed that 79% of respondents experienced increased employee productivity as a result of using a cloud approach.
3. Simple to Use
73% of respondents to a survey listed lack of resources and expertise as a challenge when it comes to cloud computing. In fact, 27% claimed it was a significant challenge. Despite many IT workers taking the necessary steps to increase their cloud computing skills, a proportion of employers still find it difficult to find workers with the requisite expertise.
Hopewiser’s simple-to-use Cloud Address Cleanse solution will have you up and running within minutes. It comes complete with a fast, user-friendly wizard as well as helpful tips to guide you through the process. This makes it useful and effective even for those lacking cloud computing skills. Find out more about a free sample analysis of your data here.
4. Maximise ROI
82% of B2B professionals believe data quality drives the right campaigns, but only half are confident in the quality of their data. Not only does bad data pose risks to businesses in terms of compliance, but efficiency is also hindered with added mailing costs and time taken to manually correct errors. You can find out more about the adverse effects that dirty data can have on your brand’s reputation in our FREE guide.
Cleaning your company data can help maximise ROI for your business by eradicating all those duplicate, deceased, and goneaway records. The ease of data cleansing in the cloud will save you time and money by removing the burden of on-premise solutions and the lengthy periods of time staff spend using them.