The data you collect and use in your business makes all the difference when it comes to the well-defined line that separates successful companies from those that keep struggling to make it. Don’t believe us? Look more closely at the renowned establishments, regardless of whether they operate locally or internationally. You will realise that they all have one thing in common: they invest a lot in data – accurate data.
That’s part of what data cleansing is all about. This is what you need to make informed business decisions, drive operational efficiency, and enhance customer relationships.
What’s Data Cleansing?
The simple definition of data cleansing is the process of assessing data and rectifying it to ensure maximum accuracy and correctness. This process involves checking data against various databases to remove duplicates, obsolete data, and other inaccuracies.
By leveraging powerful capabilities such as what you get with Trestle Identity Solutions, you can rest assured the decisions you make based on the data in your systems are the right ones.
Why Invest in Data Cleansing?
Considering data cleansing is an extensive process that typically requires an investment, why would it be worth considering? Well, here are a couple of reasons to keep in mind:
1. Better Decision Making
The worst thing you can do in business is to make decisions blindly. You want to refer to a reliable source before making any decisions, and the most factual source would be your data. If, however, you are relying on inaccurate data to make your decisions, you will most probably keep making the wrong decisions.
For instance, relying on outdated contact information to guide your marketing efforts means you will waste a lot of resources directing your efforts where there’s little yield.
2. Cost Savings
You always want to seize every opportunity you get to save money in business as long as it doesn’t affect the quality of service or products. Data quality issues are a known cause of unnecessary expenses in business, considering you have to spend quite a lot of time and money to fix errors. By eliminating outdated data and fixing inaccurate data, where possible, you can avoid absurd expenses tied to customer communications, mailing costs, and marketing campaigns.
What’s more, you face a lower financial loss risk related to errors in financial reporting, inventory management, and billing.
3. Increased Productivity
If you’ve been wondering why your marketing and sales teams aren’t delivering great results, it’s probably just because they are relying on inaccurate data to inform their actions. In such a case, they are wasting a lot of time contacting inactive customers or creating invalid reports. Consider cleaning your databases and maintaining them if you want to see an improvement. Clean information sources make it possible for your employees to make the most of their work hours.
4. Regulatory Compliance
The last, but not less important reason in this list is ensuring compliance with data protection regulations. Data cleansing plays a critical role in the compliance process and protects your business from risks tied to data breaches.
Did you know that more than 57% of companies find out about dirty data in their systems only after it’s reported by customers or other parties?
Investing in data cleansing solutions makes it possible to avoid such situations since you have the power to remove such data before it starts to cause an issue. What’s more, it ensures that the data you have in your systems matches consumer consent and preferences.
Enjoy These Benefits and More Today!
There’s a lot that data cleansing can do for your business as far as optimising operations and lowering risks are concerned. The most interesting part is that the benefits mentioned in this post are just the start.
If you’re looking to experience the full power of clean data, try the solutions that Trestle offers. Visit trestleiq.com today to find out more and get started.
