With the New Year upon us it is a great time to assess where business can become more efficient. The ability business has to process analytics is expanding faster and faster. Thanks to modern computers and advanced software, interested parties can collect and evaluate more customer data faster than ever before. Businesses have to be cautious though. There are holes that cause issues with the results data supplies, if that data isn’t as correct as possible. Since the economy crash a few years ago, an increasing number of customers have rapidly changing information. Many people who were once home owners, now rent, and move with increased frequency. Many are changing phones plans and phone numbers. Others are getting married or pass away. There are far fewer constants today than in the past. As companies collect more data, it becomes more difficult to verify if their data acquired in the past is accurate. This creates multiple records for the same customer with varying levels of accuracy. These records not only fill up company databases, but keeping incorrect data wastes company resources. Large companies employ professional companies or firms, or they use department resources to monitor their data to and remove inaccurate information.
We know that large companies are greatly affected by incorrect data. Poor data has caused several large companies to make decisions that eventually removed them from the current market place. Companies like Kodak, RCA, and Motorola who were once Fortune 500 companies are no longer in business. If large companies can be ruined by poor decisions, what does that say about the need for small and medium sized companies to base business decision on accurate data?
In today’s business environment small and medium businesses struggle from limited access to effective tools for dealing with data. Big businesses can afford expensive software products, making it difficult for small and medium sized business to compete. But what about the little guy? This is where Aim-Smart comes in. Aim-Smart is a powerful Excel data quality solution for small and medium sized companies. Not only is it fairly priced, it allows small/medium businesses to leverage best-in-class data matching, address validation, and data analysis within Excel.
What will your company do this year to increase data quality?