Gold mining is not so different from data cleansing and data enrichment. Gold may be abundant in a mine, but it has to be extracted first, then processed before it can be turned into something of greater value and that can be truly appreciated.
In the same vein, data is valuable, but only when it is accurate, organized, and continually updated. It becomes even more valuable when meaningful information is gleaned from it. Data cleansing and enrichment turns existing databases into more useful information by removing or replacing inaccurate and obsolete data.
Here are examples of what a data cleansing and data enrichment agent can do for you:
- Eliminate obsolete, duplicate or erroneous data
- Standardize data and formats
- Correct typographical errors
- Ensure the right data is matched under the right fields
- Update information such as changes in addresses and contact numbers
- Organize data by relevance or as needed, etc.
Should you consider outsourcing data-related work? But first things first: Do you need it at all? Here are some benefits of data cleansing and data enrichment that could help you decide.
Outsourcing data-related work enhances customer acquisition.
Data is and always will be at the core of business activities. An updated database is vital to the company's client management, sales, and marketing strategies.
Many teams, for instance, run email campaigns. If your company's database has not been cleaned or updated for a couple of years, this means you may have lost the opportunity to reach out and connect with your existing and/or potential customers. In a market that is ripe with competitors, you can't afford this blindside.
Outsourcing data enrichment work leads to sound decision making.
Data is believed to decay at a rate of 4% to 5% per month. Because your database is what you use for presentations, market analysis, targeting leads, and projecting future trends, it needs to be as immaculate as possible. Having a team that regularly cleans and enriches your data means you can pull up substantial and reliable figures any time.
Outsourcing increases productivity and efficiency.
In order to target the right demographics or make accurate calculations, you may need to remove old clients, or verify existing information with an existing pool of data, or countercheck addresses with the Yellow Pages.
Regardless of the technology we have now, either data cleansing or data enrichment remains a tedious task, but one that keeps your company standing firm on solid ground. It comes as no surprise, therefore, that many companies resort to outsourcing to ensure that crucial data-related processes continue to run smoothly.
You may be using powerful software for data analysis or running your own algorithms, but remember that they can only give answers based on the quality of data entered. And, you can only get quality raw data through high-volume collection methods done by humans connecting with your customers and interacting with them in a meaningful way. As of now, humans remain the cheapest, most accessible, and most reliable tools for that.