“Bigger isn’t always better”. Jokes aside, there is some truth to this statement.
When people hear these words, many think to call it a joke and mess around with all the lifted truck owners, bigger boats, or corporations that attempt to create a monopoly. We must remember that the goal of a company is to make money, at least if they are for-profit. Sure, they may have another agenda that they point out to the world whether it be to end child labor, save the trees, come up with alternative energy sources, and now even creating a new form of food grown in labs . In the end, we’re all here to put bread on the table.
In the US, everything is bigger. Bigger portion sizes, larger cars, louder lifestyles. However, the focus has been pushed away from quality into quantity. How did bigger become better? Well, it’s been that way for thousands of years. Territory was a large proponent of this notion. “I have more land than you” or “my sword and armor are bigger and thicker than yours”. We are just now realizing as a society that not all big things are good. Bigger IS NOT always better. Especially when it comes to your data. Sure it’s nice to be able to go back on all the years of data you’ve collected over the course of your business operations, but nobody likes a data hoarder. When you think about it in this respect, you’ll notice that its only useful to keep around data that is useful and readable. For example, when looking at previous customer transactions or business purchases, would you really want to keep every single transaction down to the minute detail? Or a general overview? Of course, your retention policies may require you to keep things for a certain amount of time, but after that, it is basically sitting there collecting dust.
Machines are the most impressive they’ve ever been, There is no slowing down, and its staggering how fast they’ve advanced to the point where we are teaching AI to play ping pong.
But there is more to machines than ping pong. They can read data that humans cannot. While we have the capabilities to collect a vast amount of data, it still slows down your system to the point where it could take hours or even days for machines to sift through it all. That’s a lot of wasted time. Data costs money. We live in a cost averse society, so when your business could save millions of dollars each year by cutting down the amount of data readily available, would you do it? Big data is just that, BIG.
The good news is that Auritas has proprietary tools to deal with your data needs. Now, it’s not enough to just do a one and done archiving initiative. You will be right where you started in no time if you go in with that mentality. It’s important to consider organizing your data and setting in place certain policies or rules in order to properly manage your data.
UNIFYING YOUR DATA ACROSS CHANNELS
When the internet was launched commercially, it had one goal. To offer effective information sharing and communication on a global scale, and that is no simple task. Since that initial initiative began, we’ve advanced astronomically, and it is more important than ever to be able to keep track of where your business comes from and unify your customer data from channel to channel. “Companies must find and use the tools that allow them to recognize customer behavior at multiple touch points as belonging to one and the same relationship or it is impossible to get a true sense of each customer’s value and their pain and pleasure points.” says Destination CRM. SAP reports that working with pharmaceutical companies that pulled segmented national prescription data from third-party sources, obtaining more comprehensive results than they could get from locally aggregated information. These companies used that combined data to create relevant compensation plans for Salesforce.
DATA QUALITY ASSURANCE
The quality of your data is more than just knowing who and where it came from. Ensuring data quality is not just optional anymore
Of the fortune 500 firms from 1955, only 60 remain according to AEI. This is a staggering difference, and while there are many reasons why a fortune 500 firm could fail, proper data management has been one of the biggest players. When companies don’t change with the times, others catch up or do it better. Trends come and go, but being alert for stale entries, bogus addresses, and duplicate records not only sets your marketing team up for success, it also makes sure that your cross-departmental exchanges are cohesive and organized.
WHAT COMES NEXT
Auritas is geared with the data and content experts to help you at any phase of your projects.
We welcome all questions and comments! So if you have anything specific that you’re wondering about you can also drop us a comment below.
If you would like to talk to one of our data and content management experts, please feel free to contact us, and we’ll be sure to get back to you at the earliest convenience.
Trends come and go, but being alert for stale entries, bogus addresses, and duplicate records not only sets your marketing team up for success, it also makes sure that your cross-departmental exchanges are cohesive and organized.