Consistency is key, even when it comes to data. Enter: Data standardization. For any successful data management strategy, this should be at the core.
You may ask yourself: Why do we need to standardize data? Let’s discuss how, without data standardization, you could be losing out on the ability to make data-driven decisions based on insights you should be able to trust.
What is meant by standardized data?
Data standardization helps improve the quality of your data by transforming and standardizing it. Think of it like a uniform for your databases. By taking this step, you are formatting your records in a way that creates consistency across your systems and makes it easy for businesses to use.
Have you ever tried to mail postcards, only to find that you cannot trust the address information for your customers because it’s not formatted correctly? Have you tried to send an email campaign only to find that emails are blank, or phone numbers are in the place of where emails should be on a customer file? Frustrating, right? This is where data standardization can help.
Picture this: A data standardization solution can format all alphabetical characters in ALL CAPS or vice versus across the database fields. For addresses, you can standardize Str., Street, and St to ST. For phone numbers, you can remove extraneous characters from the number like parentheses and hyphens.
With a data standardization software, you can mitigate this frustration and risk of inefficient operations and undelivered messages to your customers.
Why data standardization?
Data standardization, as part of your data management strategy, is foundational for businesses. Without it, you could face challenges like increased operational costs, unreachable customers, and misinformed business decisions, resulting from unreliable data.
Uniformed records make it easy to navigate your database, which has enormous benefits within itself. Consistency across your data puts you in a position to thrive. Here are the top 5 benefits:
- Save time, money, and energy when it comes to your operations
- Reach your customers by equipping yourself with the right contact information
- Make data-informed decisions to drive success
- Empower your business with complete and correct information
- Enable your data to be shareable and leverageable across your organization
Data standardization sets up your data management practices for success. When you pair data standardization with other data quality capabilities like automated cleansing, profiling, and monitoring, you can:
- Develop trusted data
- Gain deeper consumer insight
- Create a single customer view
- Be transparent with data
Why we need data standardization
Steve Tryon, SVP of Logistics at Overstock.com, says it best, “We’ve managed to improve our customer data, reduce costs and provide a better customer experience—all while staying way ahead of the ROI.”
That is the type of experience you can also have by when you add data standardization to your data management toolbelt. Once you standardize your records, you can take your data strategy to new heights with a fully development data management program.