For the success of any business intelligence strategy, the quality of data is very important. Irrespective of the type of business, data cleansing is an important requirement due to the following reasons:
- Globally, around 3% of data gets decayed every month.
- About 14% of revenue loss happens every year due to poor data quality.
- Around 18% of all telephone numbers change annually, and 22.5% of emails decay annually.
Considering the decay that piles up over the years, it makes sense to cleanse data regularly. But, many businesses possess a fairly large database of organic contacts. This means, to keep the data clean, they will have to work 24×7 on validating and updating the list with fresh contacts. Besides, businesses need to have the right tools and the right people to maintain the data quality, which requires huge monetary investment.
It is for this reason, most B2B companies nowadays entrust the task of data cleansing and validating to professional data cleansing companies.
1. No Need to Buy Data Cleansing Tools or Hire Additional Staff
When data enters your business systems through different channels, it is inaccurate, duplicate, incomplete, and outdated most of the time. Therefore, it is important to clean it from time to time to maintain quality standards. If you decide to clean it in-house, you will require the necessary tools, technology, and expertise that will result in additional expenses for your business.
Partnering with a professional and experienced data cleaning service providers will turn data cleaning into an easily understood line item that you will be able to integrate into your organizational budget seamlessly.
2. Complete Peace of Mind
When you collect data from multiple sources, various errors and impurities creep into it. Consider these startling facts about B2B business data:
Inaccurate data leads to wasted efforts and wrong assumptions. Dirty data impacts your business and bottom line in many ways. When your data is dirty, your business decisions are prone to errors, and you risk the loss of investment.
Data cleansing by skilled data professionals will help you focus on data that will give results so that you can utilize your resources efficiently to pursue quality leads.
3. Your Staff can Focus More on Generating Insights and Decision-Making
For any business, one of the most valuable assets is its data. The ability to analyze data and metrics in a timely fashion is crucial for making important business decisions. But, data scientists spend a big chunk of their time on data preparation and just 9% and 4% of their time on data mining for patterns and refining algorithms.Consider another finding of a survey, where 76% of data scientists have admitted that they find data preparation the least enjoyable part of their work. When employees don’t enjoy what they do, it often results in lowered productivity, morale, quality, and efficiency.
So, if you plan to create a productive and engaged team of data scientists who can develop useful insights for your business, it’s a good idea to outsource data cleansing tasks to professional data cleaners.
4. Boost the Power and Reliability of Sales and Marketing Database
A study concerning B2B businesses found out that only 60% of generated leads are valid and acceptable. 40% of the leads fail to meet marketers’ criteria.
Now here’s why we want you to focus on the above figures – Poor quality data leads you to the wrong people and leads to wasted time and effort. When your data is free of errors, you can make better marketing decisions and benefit your organization.
A good data cleaning company, like Blue Mail Media, can ensure up to 95% data accuracy. With this high-quality data, you can achieve the following benefits:
5. It Improves the Scalability, Flexibility, and Agility of Organizations
When you outsource data cleansing services to professionals, it gives your business the flexibility and scalability to stay abreast with market dynamics and fluctuations. Also, it enhances the productivity of your in-house data scientists by giving them more time to discover the true potential of digital transformation.
Data Scientists can spend up to 60% of their time cleaning data. Outsourcing data cleansing to a company with efficient processes will help your in-house teams become 100% more efficient at analyzing data and using it to grow your business.
6. Custom Data Cleaning
Data cleaning is a highly custom job that varies depending on the needs of the organization. Due to this it is important to find a professional data cleaning service capable of creating solutions applicable to multiple industries and organizations.
7. Helps you Save Money
As per the 1-10-100 quality principle, when you get your data cleaned regularly by a professional data cleaning company, the cost involved in cleaning is much less as compared to the cost required to clean data after it has caused a drastic problem.
Source: AI Multiple
8. Outsourcing Makes you Competitive
With the help of agile and reliable process management of professional data cleansing companies, your business can gain a competitive advantage to stay ahead of competitors who struggle to decide how their data cleansing teams operate.
9. You Can Outsource Data Cleaning While Maintaining Privacy and Security
Several business owners don’t get their data professionally cleaned because they worry about data privacy and security during the outsourcing process. But with a reliable data cleansing partner, like Blue Mail Media, you can rest assured that your data is in safe hands. When you choose a reputed data cleaning company, such organizations will have the policies and procedures in place to ensure your confidential data is securely stored and accessed.
Data cleansing is a time and labor-intensive task. Putting such a complex task into your staff’s hands severely inflates business process timeframes, slowing down operation and jeopardizing the business. Outsourcing this task to a professional data cleansing company optimizes your skilled resources’ productivity so that they can devote more time to generating analytics and insights and use that to grow your business.
Robert Duke is a Marketing Manager at Blue Mail Media. With over 10 years of experience across B2B Marketing, Lead Generation, and brand marketing, Duke has helped several SMBs and large-scale organizations to elevate their marketing strategies.