What Poor Quality Data May Be Costing You and Your Business

Inaccurate or out-of-date data can hurt your marketing efforts.

It’s no secret that data is a requirement for successful marketing in our digital world. Data informs the messages you create, the audience you target, and the decisions you make for the future of your business.

There’s a lot of data out there, and unfortunately, with big data comes a lot of bad data. Data is constantly changing, and the amount of it is growing at an extremely fast rate. The Internet of Things (IoT) has led to exponential growth of the amount of data generated each day, as people are creating and analyzing data about everything from their health to how often they look at their phones.

By 2025, Raconteur estimates that there will be 463 exabytes of data generated every day globally. (One exabyte equals 1,000,000,000,000,000,000 bytes.)

So as a marketer, how do you sift through it all to ensure you’re getting the latest, most-accurate data? It can be challenging, not to mention costly for your business. Here’s how much bad data can actually cost you, both financially and with wasted resources, and how BDEX data can give you peace of mind in this convoluted space.

How much does inaccurate data actually cost you?

According to BrightTALK, sales departments see losses to the tune of $32,000 and 550 hours per representative when they use bad prospect data. Gartner’s Data Quality Market Survey showed that companies saw as much as $15 million in costs due to poor data quality in 2017.

Organizations face another big issue when they fail to address the quality of their data. Gartner found that 60% of companies don’t measure how much bad data is costing them, which is a big problem if they want to see significant changes.

This first requires an understanding that in our current climate, data quality and business outcomes are directly linked, as Gartner points out. Businesses simply don’t understand how critical high-quality data is for their business success.

In addition, better data is also linked to better customer service and greater client loyalty. A brand becomes more trustworthy if they’re putting out quality, accurate content, and so the data that informs that content must also be accurate.

But aside from marketing teams gaining an understanding of how critical quality data is, what can be done to help you sort through the inaccurate or outdated data and get the high-quality information that your marketing efforts depend on?

Getting high-quality data with BDEX

The tools at BDEX help you get the quality data you need, right when you need it. We place custom, real-time tags across thousands of websites, apps, and platforms, and they deliver the most current data available. We also gather user data across multiple channels, and our BDEX Identity Graph helps you use this data to better identify who you’re targeting.

We have over 6 billion unique IDs, over 5,500 data categories, more than 800 million mobile ID-to-email matches, and over 1 trillion data signals. With BDEX, you’re empowered to create your own custom audience. All you have to do is build your ideal customer to target, download the data, and get your messages in front of the right people at the right time.

Our solutions work for marketers in many industries, including retail, automotive, media, franchises, agencies, and out-of-home. Our data is always clear, high-quality, and current, which is not always easy to find in a world of big data that only continues to expand.

You need to get the most out of your data. Otherwise, you’ll waste time, money, and resources marketing to the wrong audiences at the wrong time with the wrong messages. BDEX can give you the right data you need to better connect with the person behind the data signal.

Make real human connections with BDEX. Contact the team today to get started transforming the quality and accuracy of your data.