Help Your Customers Build a Strong Foundation Through Data Quality
How would you react if you discovered your house was built on a crumbling foundation? Without a second thought, most of us would immediately lose confidence in its integrity and security, and take action to safeguard the construction before the walls came tumbling down. Poor quality data is much like an unstable foundation, but contrary to our homes, its criticality is often overlooked in client data management and integration projects. Take just one example, marketing campaign success. As reported by researcher Ascend2, 92 percent of marketing and sales influencers stated that having high quality customer contact data to work with is “very important” for their marketing and sales success.
Take for example, Tȕrk Ekonomi Bankası (TEB), one of the major players of the Turkish Financial Services Market. After merging with Fortis Bank Turkey, a trusted data foundation was their top priority before launching multi-channel outreach campaigns for their shared customer base across both companies. TEB turned to Informatica and its local implementation partner KOMTAŞ Information Management to support their data quality initiatives. As a result, they effectively targeted, acquired and retained banking customers while reducing costs and enhancing operational efficiency. On top of this, they revealed new insights, fueled reliable decision making, and helped the combined business grow.
Without question, data quality is crucial to help customers make better decisions based on data – and it opens doors for our channel partners to routinely introduce it as part of every conversation. Read on to learn how data quality plays a role in each of these data management and integration projects.
Data governance is one of the hottest trends in data management because it’s truly impactful for data-driven businesses. Regulatory compliance such as the General Data Protection Regulation (GDPR) is driving data governance demand, but the popularity is now exploding due to many other factors. For example, customers today, especially those who are laser focused on unlocking the value of data, are leveraging data governance to deliver trusted data through analytics programs and to improve customer experience.
For those who manage data governance policies and procedures, the technology is almost secondary. Peace of mind and confidence in trusted data comes first. With data confidence being a key business driver, every data governance conversation warrants the introduction of Data Quality products.
Business Intelligence and Analytics
For all organizations, big and small, the quality of data has an undeniable impact on the bottom line because inaccurate data simply erodes the foundation of all data insights and the ability for businesses to make impactful decisions. What’s more, today’s flourishing self-service analytics trend is driving the need for trusted data like never before. In fact, Gartner predicts, “through 2017, the number of citizen data scientists will grow five times faster than the number of highly skilled data scientists
In light of this, I encourage you to leverage our Data Quality products to build client confidence in data and to build a foundation for better data-driven decision making.
Data Migration Between Data Stores
At the end of the day, why should we enable our customers to move untrusted data? Leveraging Informatica’s Data Quality products gives your customers the ability to fill data repositories with only valuable, trustworthy data. Their migration initiatives without quality data are not only impractical, but also result in wasted productivity, unreliable analytics, regulatory fines and other unwanted headaches.
Whether data is in a data warehouse, in a data lake, in the cloud, on-premises or in hybrid sources, the inclusion of data quality as an add-on to migration initiatives is critical to build the strong foundation that your customers need.
Master Data Management
When it comes to Master Data Management (MDM) initiatives, data quality can’t be ignored as it’s largely considered a prerequisite. According to Andy Hayler, the CEO of The Information Difference, “it is possible to have a data quality initiative without master data management, but every MDM project must have a data quality element.”
So why do MDM and data quality go hand-in-hand? With MDM, a single master data hub is the authoritative source of data feeding into other IT systems. Imagine if this data is bad quality and proliferates to all systems throughout the enterprise. When Data Quality products are considered vital in MDM strategy, such problems are easily prevented.
We’ve all experienced those dreadful customer service calls that leave us with a bad impression – often the result of incorrect or incomplete information. To offer a prime example, without stating the company name, there is a brand that my family used to shop with frequently that constantly sends my wife mail addressed to “Warren”. Her name is Lauren. Can you take a guess as to why we used to shop with this brand and no longer do? The reality is that, when you have a negative experience, you think poorly about the company. If they can’t get my name right, what’s the likelihood that they have great policies around my credit card information? The problem lies in the fact that many organizations have multiple or inconsistent records and little to no visibility into a holistic view of customer profiles. Moreover, they often cannot engage with clients via phone or email due to lackluster data which not only results in poor client satisfaction, but negatively impacts the bottom line.
To combat these challenges, businesses seek partner expertise to implement better customer service solutions. Data Quality and Contact Data Verification tools help achieve client satisfaction goals through data quality, which can be used in conjunction with CRM and customer service software initiatives.
Why Informatica Solutions?
Informatica has been positioned as a leader in Gartner’s Magic Quadrant for Data Quality Tools for ten consecutive years – which gives you and your customers confidence in our data quality solutions. Not only that, but we also have countless successful customer engagements across the world, in every industry, in both IT and Business with Informatica Data Quality – check out some of them yourself.
To learn more about Informatica stand-out solutions for data quality and how customers are successfully utilizing these tools, please take a moment to read my earlier blog post.
How You Can Drive Solutions for Your Customers
Every day we learn more about the needs of our partners who are driving data quality strategies – and we’ve built the enablement tools to ensure you’re successful. We encourage you to take advantage of the following upcoming and recorded webinars to learn more:
Please reach out!
We would love to learn more about your data quality initiatives. Please comment below or reach out to us on Twitter via @infapartners.