Accurate Data Key to Better Understanding of Your Customers

Furthermore, many businesses maintain different databases for various business units or departments. This can often result in duplicate records. In fact, 42 percent of those surveyed in the Experian QAS study stated that multiple databases cause duplicate records.

Finally, searching functionality in most CRM systems is very stringent and an exact match is required to find an existing record. With consumers moving so quickly and many entering information online or on mobile devices, it can be difficult for organizations to tie new information to an existing record. While these barriers are challenging, they can be overcome with a consistent data quality strategy. According to the study, 37 percent of organizations have a data quality strategy in place to support a single customer view. The reason is simple: the more accurate the information, the easier it is to add information to existing accounts and consolidate duplicate records.