The marketing environment is becoming more data-driven by the day. To keep up, marketers must rely on consumer statistics, campaign measurements and real-time data generated from customer interactions. Building a data management strategy that collects and links all of this data from multiple channels, in a secure manner, is hugely important.
The need is clear, and it affects the bottom line. According the Experian Data Quality research, only 10 percent of commercial companies report that none of their revenue is wasted by poor data quality. And the majority (53 percent) of companies who have significantly increased their profits in the last 12 months manage their data in a central location.
In a recent best practices guide for data management, we identified the key facets of data management as:
- Data collection
- Cleanliness and data quality
- Agility and accessibility
To make data-driven decisions, marketers need to be completely confident in all of these data areas. And although building a data management strategy is imperative, sometimes it can be hard to know where to start.
With that in mind, we’ve put together a list of ten data management questions that will help you pinpoint where your strategy excels – and where you may need additional resources.
With answers to these questions in hand, check out our Data management: Best practices guide. In it, you’ll find best practices for improving your data management strategy in all five areas.