Collecting Accurate Contact Data in a Multichannel Enviornment

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Data Quality Survey Review:Collecting Accurate Contact Data in a Multichannel Environment

Wednesday, August 17, 2011

Teleconference:

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Welcome!Introductions and Overview of Today’s Session

Experian QAS findings from June 2011 research

► Review research findings

► Discuss interesting trends within and across markets

► Provide tips for improving multichannel contact data quality

Today’s speakers:

► Erin Haselkorn

● Marketing Programs and Data Quality Research Specialist, Experian QAS

► Product Manager

● Product manager

► Courtney Fulton

● Marketing Programs Manager, Experian QAS


Key Takeaways

Channels of communication are diversifying

Current accuracy levels are low

Manual cleansing processes are common

Consider all channels for cleansing


Research Methodology

December 2010

1,320 respondents from 7 countries

Produced by Dynamic Markets

Multiple industries

250+ employees

C-level executives, vice presidents, directors, managers and administration staff


Data Quality Matters

87% of U.S. businesses have a documented data quality strategy

► Data quality strategies are most common in the U.S.

Companies improve contact records to:

► Increase efficiency

► Enhance customer satisfaction

► Generate revenue

APAC is more focused on informing business decisions

The financial industry wants to improve contact records to comply with regulations


Data Quality Matters

Revenue Generation Cost Savings

Increased Efficiency Brand Protection

Customer Satisfaction Customer Profiling

Enable Informed Decisions Compliance

Reduce Risk/Fraud The Environment


Low Level of Accuracy


Low Level of Accuracy

89% suspect customer/ prospect data inaccurate in some way

24% of total records inaccurate

U.S. most confident; APAC region least confident

Education was least confident; utilities and financial services are most confident

79% experienced at least one negative consequence in the last 3 years from data accuracy issues

► 87% wasted departmental budget

► 30% negatively impacted customer perception

► 26% lost a potential customer


Reasons for Inaccuracy

0 10 20 30 40 50 60

Percentage

Don't Know

Other

Human Error

Inadequate Data Strategy

Inadequacies in CurrentRelevant Technology

Lack of Relevant Technology

Lack of Internal ManualResources

Insufficient Budget

Inadequate SeniorManagement Support


Current Strategies

87% manage data accuracy in some way

73% of U.S. businesses use at least 1 manual process, compared to 64% globally

81% of organizations upgraded data management systems in the last 2 years

$-

$1

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Mil

lio

ns

in U

.S.

Do

llar

s

The UK The Netherlands France The U.S.

Australia New Zealand Singapore

Return from Data Quality Improvements


Current Strategies


Current Strategies


Find the Right Contact Data Quality Tool

► Review data usage

► Examine entry points

► Evaluate data errors


Demonstrate ROI

► Set objectives and benchmark current performance

► Establish target metrics

► Communicate vision to stakeholders

► Evaluate based on metrics

► Present results to stakeholders


Summary

1. Businesses are investing in data quality

2. Significant uplift is seen from improving data quality

3. Organizations rely too heavily on manual processes

4. Evaluate data prior to choosing a solution

5. Demonstrate ROI and make sure the solution is working


QASProducts & services

Real-time verification

Address

QAS Pro QAS Pro On Demand QAS Pro Web QAS Pro API

Phone and Email

QAS Phone QAS Email

Clean & enhance

Clean

QAS Batch

QAS Bulk Processing

Phone & Email Batch

Enhance

QAS de-duplication

NCOALink®


Questions

?Submit your questions now!

Questions after the event?

Email: [email protected]

Call: 888-727-3985

Visit: www.qas.com

http://www.qas.com/

© 2011 Experian Information Solutions, Inc. All rights reserved.


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