Data is everything in today’s fast-paced digital world. Every major decision is made after careful analysis of precise data. According to Harvard Business Review, more than 26.5% of businesses have adopted a data-driven culture. Data-driven companies acquire more customers and generate higher profits than others. But what happens if the data is obsolete? Valid and precise data can highlight hidden business opportunities, whereas poor data quality can disrupt organizations and cost millions of dollars. Only a few firms understand the significance of data quality management, while others ar ..read more

Real estate is one of the first things that comes to mind when considering a less volatile investment option. Everyone wants to own a property with the highest return, the most value, and the least amount of risk. To do so, one must sift through massive amounts of data to determine whether the property is worth the money invested.  Manually curating and verifying whether the data is up to date for analysis is time-consuming and error-prone. As a result, implementing AI-powered data quality tools can benefit all real estate stakeholders. According to a Deloitte survey, data quality is one ..read more

In today’s fast-paced data-driven world, data quality has become a buzzword for every industry. However, there is a strong correlation between data quality and the banking sector. Banks used to be all about deposits and loans, and everyone in the bank knew their customers by name.  Now, banks do everything digitally, eliminating customers’ need to visit the bank. The banks only know their customers with the data. So, offering a good customer experience and developing mutual trust depends on a clean and validated database. According to Forbes, 20% of the data is unstructured, increasing th ..read more

For any organization to be data-driven, it is crucial to understand how to turn data into insights. Data is everywhere, waiting to be discovered and transformed into meaningful information. Organizations deal with vast amounts of data on products and services, customers, competitors, markets, operations, and more. But only a fraction of these companies are able to utilize this data for making impactful business decisions.  The reason is that this vast volume of data is mainly scattered across company databases and exists in silos. Only by having entire data in one place can an organizatio ..read more

The retail sector is highly competitive and constantly changing when compared to every other industry in the world. Every year, many small-scale businesses are established in the retail industry. Though this scenario is encouraging for those considering starting a business, it is difficult for existing players to stand out from the crowd. Data can be a significant differentiator in the retail business. However, in today’s digital world, every customer touchpoint is a data point, and data decays at an alarming rate. You can no longer use data quality strategies as a one-time solution. A retaile ..read more

In this competitive business world, it is important to retain the existing customers to survive in the market. You cannot risk losing loyal customers by failing to analyze the customer’s behavior pattern, geographic location, or market condition. Have you ever sent a personalized email twice to the same customer, or worse, to the wrong customer? If so, it’s most likely not an oops moment. It’s bigger than that and could result in the loss of potential customers. Every business decision is based on data. To derive valuable insights, you must have quick access to cleaned, updated, and enriched d ..read more

Data is an integral part and the most valuable asset of any organization. These data can be of different types for different usages- to create, improve, innovate, implement, and more. The real problem arises when the data is inaccurate and not up-to-date. Any outdated data can affect your business and functioning- reduces productivity and customer satisfaction, misleads to take wrong business decisions, increased consumption of resources and maintenance costs, etc. According to Gartner, the average financial impact of low data quality on organizations is $15 million per year. Ensuring updated ..read more

Data, data, everywhere. It’s the 21st century, and the business environment today is highly fluid. As soon as one thing moves, everything else shifts to adapt. This is critical for business owners to understand because the world as we know it is changing, and unless organisations have fresh, real-time data, they can’t predict the changes that the future brings.  Not having the right data can seriously hinder your business from being truly agile. Well, Gartner captures it perfectly, “The average financial impact of poor data quality on organizations is $9.7 million per year.” Still, thinki ..read more

Sometimes, managing your data is a lot like being between the devil and the deep blue sea.  When the world expects more information, what it really expects is information that is beefed up, information that is very current, and information that has more context. While it sounds a bit intimidating to keep up with such tall expectations, with a smidge of smart work and hard discipline – it doesn’t have to be. The real challenge, however, lies in maintaining the data at the same level of accuracy even over a small period of time.   Data by its very nature is fungible and ever-chang ..read more