As business decisions are increasingly based on analysis of in-house data, inaccuracies can have far-reaching consequences. That is the topic discussed in this white paper from PAR - one of the leading European providers of business information.

The developing functionality of data
Data has grown from being a list of customer contacts to information that forms the basis for key business decisions: investment, target markets, product development, premises and staffing.Yet research shows that between 15% and 40%1 of the records in the average company’s in-house database are inaccurate. That means that business decisions are wrong by that amount too - potentially catastrophic, particularly in a recession.

Data quality isn’t just about having a correct address, it’s about business intelligence: knowing whether the company still exists, whether it’s activity trading and if not, why not? It’s about appending vital information that can help in making decisions and identifying key contacts to open the door to new
business.

The reasons for inaccurate company data fall primarily into four groups:
• Insufficient investment in database management and updating.
• Arbitrary uploading of information from other inaccurate sources.
• Inadequate IT controls, allowing the inputting of duplicate files.
• Insufficient ongoing monitoring leading to out-of-date information.

I personally find this white paper highly relevant, as I know that most B2B marketers struggle with incorrect data, wrong profiling and so on. The solutions suggested in which B2B marketers can integrate their CRM systems with business information providers such as PAR is a great step forward to achieve high data quality.

Read this white paper here or download it by clicking “get file”: