Data and more importantly good quality data can make or break a business. There are many data issues which can really hurt a business. For example, duplicates make it impossible to accurately count the number of leads you have, hard to locate the correct record and worst can cause an embarrassment if two different promotions are sent to the same customer. Inaccurate data has an opportunity worth of not selling due to a simple misspelling. Outdated data makes it difficult to project future business and impacts on marketers’ ability to see the true results of their latest campaigns. Not standardized data makes it impossible for analysts to run analysis on certain groups of people and impossible for marketers to segment based on certain attributes. These are just a few examples of how data quality affects almost all aspects of your business.
Doing data in-house can take time and effort, and usually would produce worst results. Here are the advantage of hiring an experienced data cleaning company:
- Time – Consider that it may take a few weeks to dedupe, normalize or clean out historical data. Now think about your employee’s other tasks that would take months not weeks to be completed due to deduping efforts. And by the time the cleaning is done, a new data would need to be cleaned as well.
- Expertize – Someone who is busy selling, marketing or analyzing, may not know how to begin to dedupe. Normalizing may sound as an easy process of grouping different values into the same group. However, dealing with the mass number of records can take you a lot longer time compared to a professional company that has technology and knowledge to deal with the same problem.
- Cost – While the cost of outsourcing may seem high or not in the budget consider the alternative. How many hours will your employees be forced to spend on cleaning data? How much do you spend on acquiring a lead or customer? What is the risk without data cleaning? Chances are the cost of data cleaning will be a fraction of the above.
- Data – You may not have the necessary data to do a proper data cleaning in-house. For example, you may want to append postal codes to your data, or maybe you need to establish parent child relationship to your account layout and you are missing key data. Therefore, you may as well append the data and clean it at the same time.
- Risk – Since there is a risk associated with data cleaning, it is wise to have more than one person to overlook the data. Having someone else perform data cleansing, and having internal teams overlook the process would ensure the highest quality work and reduce the risk.
In conclusion, you can save time, money and reduce risk by outsourcing your data cleaning projects to a third party.