Exploring Factors Contributing to Data Quality Issues
While some things are enjoyable when they're a bit "dirty" – think of martinis, jokes, or chai lattes – there's one aspect where dirt is far from desirable: data. Contrary to its potential for fun, "dirty data" – referring to inaccurate or outdated data – poses a significant challenge for businesses, accounting for a substantial chunk of annual revenue (as much as 15-25%, according to Salesforce). Consider this: a staggering 90% of contact information in an average CRM is incomplete, with 74% being outdated, and 25% consisting of duplicates. These statistics can significantly hinder go-to-market (GTM) efforts, impacting various critical functions such as prospecting, forecasting, closing deals, developing ideal customer profiles, audience segmentation, and lead routing. Now, let's delve into the various dimensions of "dirty data": Outdated Data: In the fast-paced business world, changes happen swiftly. CEOs change roles, st...