Given the complexity of B2B data, it’s a big job to manage it effectively. The fact that so much data is stale, duplicate, or incomplete has a significant effect on the bottom line, state bloggers at SetLogik (setlogik.com), a provider of software solutions for precision target marketing. To give you an idea about how much of an impact, consider these facts:
“Data quality problems cost companies between 15 and 25 percent of their revenue,” according to Jack E. Olson, author, data management authority and speaker at multiple Data Management International conferences.
Essentially, this equates to:
Big Data + Bad Data = Big Problem
To improve campaign effectiveness, B2B enterprises must be able to transform their data into the “right data: data that is always current, complete and accurate.” Once this happens, sales and marketing are able to not only reach the right customers at the right time, but also to deliver the right messages with precision.
