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The B2B Data Quality Crisis Infographic

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The abundance of data is overshadowed by the major shortcomings in quality. Just how bad is the current state of data quality? Consider this.

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The B2B Data Quality Crisis Infographic

  1. 1. 41,758contacts will become unreachable today 521business addresses will change 12%OF REVENUE LOST on average per company due to bad data $8.8MCOST PER YEAR due to bad data for the average company SOURCE: BUREAU OF LABOR STATISTICS * 7.6% OF CONTACTS BECOME UNREACHABLE WITHIN 3 MONTHS SOURCE: SALESGENIE SOURCE: EXPERIAN DATA QUALITY, 2016 SOURCE: XACTLY, MAY 2014 SOURCE: GARTNER, 2015 SOURCE: GARTNER, 2015 SOURCE: 614GROUP, JULY 2014 SOURCE: GARTNER SOURCE: EXPERIAN DATA QUALITY, 2016SOURCE: LOUDHOUSE RESEARCH, SEPT 2016 872telephone numbers will change or disconnect 1,504urls will be created or changed 158companies will change their corporate structure 65Kbusinesses close 5.2Mpeople switch jobs 73Knew businesses open 145contacts will be unreachable by the time you read this infographic IN ONLY 1 MONTH...EVERY HOUR... Biggest Challenges of Building a Business Case for Data Quality The Average Enterprise Spends: Businesses Find Data Errors Increasing The Biggest Internal Challenges to Improving Data Quality: Lack of knowledge/skills Lack of human resources/ employees Time-to-value expectations of companies have experienced internal challenges trying to improve their data quality. IT’STIMETOFIXDATAFORGOOD. Learn how in Raab Associates’ Independent assessment of the The Network of Record.TM 94% $250k-1M+Annual spend on list buying, depending on company size $500K+Consulting services for matching/unification $208KAnnual spend on on-premises data quality tools $100K+Annual spend on data validation & cleansing WHERE HAVE YOUR PROSPECTS GONE? AS THE BUSINESS LANDSCAPE IS NOW MORE DYNAMIC THAN EVER, IT’S HARD TO KEEP TRACK OF YOUR CONTACTS ON TOP OF THAT, CRM SYSTEMS ARE LOADED WITH ERRORS AND IT’S ONLY INCREASING DATA CHALLENGES WILL ONLY GET WORSE AS DATA VOLUME INCREASINGLY GROWS BAD DATA IS THE FUNDAMENTAL PROBLEM HOLDING BACK B2B REVENUE SUCCESS, AND IS COSTLY COMPANIES DEVOTE SIGNIFICANT RESOURCES TO FIX DATA, BUT AREN’T SEEING RESULTS... WHAT’S HOLDING THEM BACK FROM SEEING RESULTS? Lack of budget/funds Lack of knowledge/skills No dedicated owner to drive forward a long-term strategy Justifying data quality investment/ROI Business data integration Lack of human resources/employees Lack of board buy-in Time-to-value expectations Lack of/underperforming data quality tools Business doesn’t see the value Underperforming data quality vendors 40% 33% 25% 23% 21% 21% 19% 16% 16% 14% 10% 31 Incomplete or missing data 79%CROs don’t know where their revenue will come from 66%CMOs aren’t hitting targets The challenges of data quality are widely recognized. They will only get worse as business data gets more complicated and businesses evolve more rapidly” -David Raab 60%+13% YoY Outdated information 54%+18% YoY Duplicate data 51%+59%YoY Inconsistent data 37% Typos 2010 2015 2020 2025 4,785 601 21885 30%+36% YoY Annual Data Created is Skyrocketing The Average Connected Person is Increasingly Interacting with Connected Devices Number of interactions/capita/day SOURCE: SEAGATE, APRIL 2017 SOURCE: SEAGATE, APRIL 2017 2015 25 50 75 100 125 150 2017 2019 2021 2023 2025 +50%increase in data in 2017 growth rate in interactions between 2015 to 20204x 32% 31% 27% Zetabytes Data created 33%of CRM data ultimately becomes useless Source links: https://www.bls.gov https://www.salesgenie.com/salesgenie-data-quality/ https://www.edq.com/resources/data-quality-infographics/2016-global-data-management-report/ http://www.seagate.com/www-content/our-story/trends/files/seagate-wp-dataage2025-march-2017.pdf https://www.gartner.com/document/3634517ref=solrresearch&refval=183448896&qid=ad8a2b1c9acaf15d6f4acf68022bc2c3 https://www.edq.com/globalassets/white-papers/building-a-business-case-for-data-quality-report.pdf B2BDATA QUALITY THE

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