What is Quality Data and Why Is It Important To the Success of Your Business?
Growing up in the age of information means understanding the phrase, “garbage in, garbage out.” This is the foundation of understanding what computers do: they only process the data they have. If you give a computer garbage data, you get garbage results. We’ve all been there.
Regardless of the application of your data processing, you’ll want actionable analysis. That’s the whole point. Meaning, there is a question you want answered. However, if the scope of the data collection is limited, you may have imperfect data sets. In that case, you’ll have an imperfect analysis.
What is Quality Data?
Quality data starts with the collection. Did the data come from a questionnaire? How were the questions worded? Were they yes/no questions? Were the questions loaded? Was the survey biased? Biased data is just as bad as no data at all. Actually, it could be worse.
Think of data as witness testimony in a murder trial. Can the defense poke holes in the testimony? How about in the character of the witness? If they can, the witness testimony isn’t reliable and is of no use to your case. Let’s go back to your data set. Is it complete? Biased? Then it’s not reliable.
Quality data is complete and reliable data that helps businesses make actionable steps in their marketing and business processes.
Quality doesn’t stop at data collection. It continues with data handling and warehousing. This is why we partner with Snowflake. They have data quality frameworks that can be trusted, and, more importantly, allow for the migration of data into new tables while protecting the original datasets.
What is the Benefit of Quality Data?
Quality data has many benefits to your organization, the first of which is reliable analysis. Looking to sell auto insurance to used car buyers? Then you need the right data. Could you imagine if your entire campaign was designed to target used car buyers but your data set included all car buyers? Those campaigns would fall flat. And, that’s a waste of resources and time.
“In addition, good data quality increases the accuracy of analytics applications, which can lead to better business decision-making that boosts sales, improves internal processes and gives organizations a competitive edge over rivals.” Tech Target
Quality data allows you to make decisions on which campaigns to launch. Should you pair radio spots from Cox Digital, say, along with your direct mail? Well, you’ll need to look at your data. If you can’t trust it, then you may end up with lackluster results.
When you know that your customers are 35, college-educated, listen to Spotify playlists, subscribe to podcasts, live in downtown Chicago, and are trying to buy a home, then you’re ready to buy those digital spots.
The benefit of quality data is that it tells a complete story. We relate to stories we know. We find customers who resonate with our stories. Quality data gets you a seat at the table.
How Does Quality Data Improve Your Business?
Quality data is the key to improving your business. If it’s internal surveys, then you have actionable analysis to enhance employee retention. If your first-party data comes from post-purchase surveys, then you know what’s working and who it’s working with.
Improving employee happiness, enhancing your buyer journey, or reaching a different audience all impact your business’s bottom line. A modern business with a healthy bottom line relies upon quality data. It’s the ultimate source of truth. The soul of your business. Quality data gives improves the questions you ask, the future business you map, and the customers you onboard.
“To ensure successful execution, strategic brands see data as the foundational piece of their campaigns — not a supplemental afterthought.” Alliant Insight
AWI – Quality Data, Enhanced
What are your business goals? Can you trust your data to get you there? Andrews Wharton would love to be your data enhancement partner. With data-driven project requirements, AWI is the proven enhanced data provider with a long-standing reputation for solving your toughest marketing challenges.
Let’s work together to achieve your goals.
Success. Delivered.
