Data cleansing service has assumed great significance in this age of Big Data and the Internet of Things. Most successful enterprises are looking to harness the power of their data and apply it to improve daily operations in many ways. The available information is used to drive innovation and move forward. The International Data Corporation (IDC) estimates that by 2020 the world will hold 44 zettabytes of data, a huge increase from 4.4 zettabytes in 2013.
Big Data – Data Mining, Cleansing and Governance
Big Data brings many hassles with it – issues may surround storage and backing up of data, as well as its governance and security.
- Data mining is used by business organizations for organizing large volume data and compressing it into valuable and accurate information. It is a procedure that analyzes and explores data in order to learn patterns and trends.
- Data cleansing is the process of identifying and rectifying inaccurate or corrupt data in a database. This task typically done with the support of a data cleansing outsourcing company is very important because it improves data quality, and helps businesses ensure that the customer data is used in the most productive and meaningful manner.
- Similarly, data governance is also an important process for any business set up. It refers to the overall management of the availability, usability, integrity and security of the data employed in an organization.
Information governance expert Jeffrey Ritter says that if information governance is used efficiently and effectively, then it can bring positive contributions to the business. It helps in gaining valuable and vital corporate information intelligence. Ritter states that finding information from a box full of information is like gold mining. He explains that with data mining and data governance businesses can turn information into income. These processes can efficiently filter data and help in locating and utilizing hidden business intelligence. Information governance should be the rules-based management of digital information that connect to the advancing, wealth creation and wealth preservation goals of an organization. For big data analytics to be successful, the information governance rules must be closely followed by the entire organization.
Advantages of Data Cleansing
- Improves customer acquisition efficiency: With data cleansing, business organizations can create a more efficient prospects lists with accurate data. It is important to ensure that throughout the marketing process the data is clean, accurate and up-to-date. When the data is clean, you are also ensured the highest returns on postal and email campaigns because the chances of outdated or wrong addresses are low.
- Improves the efficiency of the employees: When the database is clean and properly maintained, employees can make the best use of their work hours. There is no risk of employees contacting customers with outdated information or creating invalid vendor files in the system. This improves employee productivity and efficiency.
- Helps quick decision making: High quality data and accurate information are vital to decision making. When data is clean it helps in better analytics and gaining overall business intelligence. This in turn facilitates better decision making and implementation.
- Streamlines business processes: When duplicate data is eliminated via data cleansing, organizations get to streamline business processes and save a lot of money. Consider that the sales information available is reliable and accurate – with this the performance of a product/service in the market can be easily evaluated. In addition, data cleansing and analytics will also help the organization to clearly identify an opportunity to introduce a new product or service in the market which may gain popularity. Intelligent data can also help organizations spot ideal marketing avenues.
- Increases revenue: When the data is consistent and accurate, it will naturally improve the response rates and thereby ensure increased revenue. Data cleansing also gets rid of duplicate data that can drain the organizationâ€™s resources considerably because they will have to spend twice as much on a single customer. Take the case of multiple emails being sent to the same customer. Customers will easily get irritated and may even completely lose interest in your products and services.
It is evident that data cleansing and appropriate governance is indispensable for business enterprises looking to grow and flourish. Data cleansing with the support of a data cleansing company can help you achieve your business goals easily. You also get to enjoy increased ROI on your marketing activities. Clean data along with efficient information management saves time and money for businesses, while also ensuring that they achieve maximum overall efficiency in functioning.