On February 24, 2016, we presented the "Improve your data usage in 2016" webinar with DestinationCRM. Data has the potential to tell incredible stories. In 2016, many companies want to better leverage their data resources to understand consumers, improve business operations and make more informed decisions. The problem, however, is that using data to tell us a story is only possible through proper management, collection, and resources. These slides will cover: - How to build customer relationships through better data - Trends in data quality challenges, and - How data management is evolving?

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Improve your data
usage in 2016
Erin Haselkorn
Analyst and Public Relations Manager,
Experian Data Quality
Dave Bresnick
Director of Enterprise Product Strategy,
Experian Data Quality

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Introducing our speakers
Erin Haselkorn
Analyst and Public Relations Manager,
Experian Data Quality
Dave Bresnick
Director of Enterprise Product Strategy,
Experian Data Quality

3. 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 SizeIndustry
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

5. 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!

8. 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

12. Polling Question

13. 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

18. 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

26. Thank you!
Stay connected with us for up-to-date insights:
dataquality.info@experian.com
@ExperianDQ
Https://www.edq.com/blog/
To learn how to improve your data management, check out:
Creating an ideal data quality strategy