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Experian Public.
Gain better customer insight via improved data quality Erin Haselkorn Analyst and Public Relations Manager, Experian Data Quality Basil Brown Pandora PreSales – Technical Lead, Experian Data Quality
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Experian Public. 2
Introducing our speakers
Erin Haselkorn Analyst and Public Relations Manager,
Experian Data Quality
Basil Brown Pandora PreSales – Technical Lead
Experian Data Quality
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Today’s agenda
Building customer relationships through better data
Trends in data quality challenges
How is data management evolving?
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Experian Public. 4
Methodology
Company Size Industry
1,400 individuals from eight countries across retail, financial services,
telecommunication, manufacturing, healthcare, public sector and more, took part in an interview during November 2015
250 - 499 23%
500 - 999 27%
1,000 - 4,999 28%
5,000 and over 22%
6%
2%
2%
3%
4%
5%
5%
6%
6%
8%
9%
12%
14%
19%
Other
Legal services
Leisure / hospitality
Utilities
Transport & travel
Education
Other public sector / Government
Health
Banking / financial services
Business services
Retail
Manufacturing
IT / telecoms
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Building customer relationships through better data
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Experian Public. 6
What’s driving the data obsession?
The biggest drivers behind gathering insights from data are customer related
39%
Finding new customers
Retaining customers
38% 37%
Understanding what customers
want
36% Growing the
business
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Experian Public. 7
The focus on big data
Over half of U.S. businesses already have a big data strategy in place!
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Experian Public. 9
Working towards a single customer view
97% of businesses are looking to achieve a complete view of their customer
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Experian Public. 10
Data collection processes
On average, organizations collect data from 3 different channels
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Experian Public. 11
Why bother with a good data strategy?
Because we’re incorporating technology into every aspect of our lives
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Trends in data quality challenges
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Experian Public. 14
Inaccurate data
Most companies today have seen an increase in the amount of data errors.
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Experian Public. 15
Biggest causes of inaccurate data
23% of all customer or prospect data is believed to be inaccurate
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Experian Public. 16
Internal challenges
94% of companies have internal challenges when trying to improve data quality
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Experian Public. 17
External challenges
Research overview Almost half of businesses struggle with data capture and validation
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How is data management evolving?
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Experian Public. 19
People, processes, technology
Research overview 78% believe data management is driven by multiple stakeholders
75% believe the quantifying and measuring of data is done departmentally
79% believe data quality responsibility should lie with the business users
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Experian Public. 20
Data quality sophistication curve
Research overview
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Experian Public. 21
Centralized data ownership and management
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Experian Public. 22
Catching up – hiring data professionals
82% of organizations are hiring for data-centric roles as part of their
data management strategy
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Experian Public. 23
Data management projects in the next 12 months
Research overview The top two data management projects deal with cleansing and integration
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Experian Public. 24
Data management five-year evolution
Data management projects will concentrate most on improving CX
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Experian Public. 25
Key takeaways
Businesses get in their own way
The right people aren’t assigned to
address data challenges
Rise in data management
initiatives
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Thank you! Stay connected with us for up-to-date insights:
[email protected]
@ExperianDQ
Https://www.edq.com/blog/
To learn how to improve your data management, check out: Creating an ideal data quality strategy