How to improve business intelligence with clean data and proper data management

How to Improve Business Intelligence with Clean Data and Proper Data Management Clean your data with the help of data cleansing services. It helps the business to move forward and gives you a competitive edge.

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Robust business data and a clear understanding of that data are vital for dynamic business functioning, as well as improving efficiency and productivity. Robust/reliable data can be obtained via data analytics and data cleansing with the support of data cleansing services. Business intelligence is expected to grow to a $26.9 billion industry by 2021, according to ReportsnReports. Business intelligence refers to technologies, applications and practices for the collection, integration, analysis and presentation of business information and with digitization businesses can ensure streamlined operations and improve productivity. IBM found that inaccurate data took a $3.1 trillion bite out of the US economy in 2016. Therefore decision makers require clean and reliable data and efficient systems to manage it.

The Need for Data Cleansing Services and Reliable Data In many business organizations, departments enter data by hand and create fresh entries instead of searching their systems and updating existing accounts. This only serves to create mixed up and unreliable data. This is because manual data entry is prone to error, time-consuming and costly; there are also higher chances of misinterpretation. For any organization it is important to keep data clean. The best ways to keep data clean is to hire data cleansing services or to use unique identifier or data backbone, or use URLs as identifiers. They are free, globally recognizable and assure high quality data that enables you to efficiently gather information that is essential for businesses.

Steps to Improve Business Intelligence Developing a data backbone is essential for business intelligence but processing data such as contact information, credit history, competitive intelligence etc can be difficult.

The following steps help to improve business intelligence with proper data management: •

Organizations can use their primary identifiers such as business URLs to make sure that their sales and marketing teams work from a unified contact list. It is important to get rid of duplicate accounts from data sets which will help departments to work more cohesively when reaching out to prospects. Using only the most relevant, searchable information and assigning it a unique identifier, helps tidy up data for more effective work.

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Competitive data of any business includes opportunities to boost communication on the basis of events and industry happenings. Data can be used to identify trigger events or industry news for their users. The business can also use blogs, articles and other information to detail where a company is positioned in its competitive field.

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•

Using a competitive relationship graph and firmographic data helps to identify new opportunities based on previous successes. Sales representatives can identify lookalike companies to discover other companies that generate similar revenue or that compete in the same space. This will help identify expansion opportunities and new markets and also identify prospects more efficiently.

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Segmentation is critical in account-based marketing, therefore it is important to accurately categorize leads entering your funnel. Attributes recorded in the data system will then direct the marketing team as to which leads it should target with certain campaigns. Companies can also customize their strategies in this way to increase conversion rates, higher customer satisfaction and lower churn rate.

Grow with Reliable Business Information There is no doubt that clean data is the most important asset for an organization looking to grow and flourish. Consistent and updated data will help all departments to work efficiently. Speedy

and

intelligent

decision-making

enabled

by

reliable business

information will help organizations achieve that much desired competitive edge.

www.managedoutsource.com

(800) 670 2809