Benchmark
report2022 Global data management research
A rapidly transforming market relies on agility in data management

Methodology
Experian conducted a survey
to look at global trends in data
management. This study looks
at how data practitioners anddata-driven business leaders
are building agility and flexibility
into their data management
programs to keep up with therapidly transforming market.
Produced by Insight Avenue for Experian in
October 2021, the study surveyed more than
900 people across three continents North
America, Europe, and Australia. As for roles,
we surveyed C-suite executives, directors,
and managers sitting in departments like IT,
data, operations, finance, customer service,
and more.

Table of contents
Executive summary................................................................................................................... 5
Section 1: Data in a digital world........................................................................................... 6
Section 2: Agility: A modern must-have............................................................................ 10
Section 3: Quality matters..................................................................................................... 14
Conclusion.................................................................................................................................. 18

“Pairing trustworthy contact data withan agile data management program
enables organizations to make theirdata actionable, allowing for betterand faster decisions when pursuing
new and existing opportunities.”
Andrew Abraham
Global Managing Director Data Quality, Experian

Report highlights
Section 1:
Data in a digital world

Section 2:
Agility: A modern must-have

Section 3:
Quality matters

In a digital-first world, learn
what leaders are focusing on
today, how bad data can impact
operational efficiency, and wheredata maturity comes into play.

A fast-paced environment iscreating a need for an agile
and flexible operation, which isleading organizations to look at
how their data infrastructure canhelp market response. Learn theimportance of data agility.

These last two years resulted ina lot of change for consumers andbusinesses. Learn how quality
contact data is more important
than ever and what contact types
organizations are after.

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2022 Global data management research

Executive Summary
For all business leaders, the past two years have been filled with trial and error
as we continue to navigate this unprecedented time of health and safety, regulations,and shifting consumer needs. As the global economy seeks stability throughout thefluid pandemic mandates, we are finding that high-quality data has been a key play
to keeping customer centricity.
We are navigating the new normal as if it is just that,
normal. In this age, we need to be ready for anything while
ensuring the customer experience and data security stay
top of mind. Experian’s Annual Global Data Management
Research report finds over half of the organizations
surveyed say that improving their customers’ experienceis their top priority this year.
To effectively do so, it’s necessary to keep up withchanging consumer buying behaviors. Our research showsthat 88 percent say being data driven helps them stay on
top of consumer needs and market trends. Reliance ondata is essential to staying competitive.
This growing dependance on data has spotlighted theimportance of quality, accuracy, and agility in various data
sources. Contact data has become especially crucial toreaching customers during the pandemic. Our researchtells us that 85 percent of respondents indicate thatpoor contact data for customers negatively impacts theiroperational processes and efficiency. Furthermore, 94
percent believe that having agility in both business anddata practices is important in responding to the pandemic.

We find that when an organization is mature in their datapractices, they are more likely to see success. Threequarters of businesses who have improved their data
quality in the last year say they have exceeded their goals
in some manner. To continue on an upwards data-driven
trend, organizations are now seeking more agility andflexibility in data management to respond to the market
more quickly.

The new normal is no longer new. This is adigital-first world and organizations needto lean on high-quality data and insights
to proactively respond to both risk andopportunity. Investing in data management
is now more important than ever before.

Andrew Abraham
Global Managing Director Data Quality, Experian

The channels that are most relied on today are email,phone, face-to-face interactions, and social media. But
tomorrow, organizations believe name and date of birth,
location data, phone numbers, and social media handles
will be even more important. With more channels being
used to connect with consumers, we are being pushed
into a digital-centric environment with even more data to
manage. Pairing trustworthy contact data with an agile
data management program enables organizations tomake their data actionable, allowing for better and faster
decisions when pursuing new and existing opportunities.

A rapidly transforming market relies on agility in data management | Page 5

Section 1: Data in a digital world
Organizations across industries are prioritizing data as the digital landscape
expands. Our research shows that 87 percent of business leaders say that
digital acceleration has made them more reliant on quality data and insights.
As digital transformation accelerates businesses need to make faster
decisions and manage more consumer data than ever, placing increased
importance on sound data management.
We see that 83 percent of organizations believe DataOps, including AI and ML, can help transform theirdata management and, in turn, support digital acceleration. These days, it’s all about who can work fasterto stay a step ahead of the competition. While organizations can use data-driven insights to benefit their
top priorities for the year, it’s important to ensure there is quality control. In this section, we will uncover
how organizations are prioritizing initiatives and ways poor-quality data can have reverse effects on those
key strategies.

Top business priorities
Over half of organizations surveyed say that customer
experience continues to be their top priority since lastyear. This is a key reason why organizations are focusedon digital acceleration, data agility, and collecting theupmost reliable consumer data. Organizations revolvearound their customers and it’s more important than everto be flexible as consumer buying behaviors adapt andshift due to the pandemic. Quality consumer data is thedifferentiator in knowing who customers are and how toreach them.
The priorities that closely follow include managing talent
and workforce development (45%), data security (43%),
and to improving business resilience (40%). All of which,remain as the top priorities since 2020. If we take adata lens to these initiatives, we can see how these key
priorities support a data management program and,in turn, drive customer experience.

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For instance, we find that a majority of organizations
are hiring data roles in the next six months to support
a workforce development program and enable theirbusiness’s data management program to mature.
Furthermore, data security protects the organizations
as they accelerate digital efforts, whether it’s protecting
consumer data online or on remote employee devices, orjust staying in compliance. Lastly, focusing on improving
the customer experience—which should ultimately result
in revenue growth—and data security measures can helporganizations build resilience and secure their future.

52% of organizations

say that the customer
experience continues
to be their top priority
Poor quality data
impactingorganizations
sincelast yearBenchmark report

2022 Global data management researchIt’s clear that data is more important than ever thesedays—but the quality of insights is what makes the data
usable. To get the most of data insights and support
organizations with their key strategies and beyond,data quality is a must. Yet almost three quarters say they
have so much data in their organization that it is difficult
to prioritize where data management can add most value.
A digital world has resulted in access to record-highamounts of data, but 68 percent say their contact data is
decaying faster than ever. With customer expectations
continually changing, especially due to the pandemic,
they need an easily sustainable data quality solution.
Decisions based on poor insights will likely not produce
the desired results. Not only can this impact the priorities
outlined but will also disrupt employee satisfaction andperformance. Eighty-four percent of organizations thinka lack of data skills in the business hampers agility andflexibility. But when business users and data users don’t
have the right technology, resources, best practices, orprocesses to support strong use of data management,
there will be few quality control measures and skewed
decision-making.

Areas of impact
Our research shows that 85 percent of organizations
indicate that poor-quality contact data for customers
negatively impacts their operational processes andefficiency and, in turn, hinders the chances of being
flexible and agile. Poor-quality data has a ripple effectas do operational issues.
When we look at the specific areas where bad data has
an impact, our study uncovers wasted resources andadditional costs (42%), negative affects to the customer
experience (39%), and damage to the reliability of and trust
in analytics (38%).
Not only do these areas of impact target the top priorities
that organizations are focusing on, they also create
roadblocks to quickly respond to economic shifts. Our
research finds that more than three quarters (77%) saythat inaccurate data hurt their ability to respond to market
changes during the pandemic. In a fast-paced, digital, andpandemic-driven environment, organizations need to beagile and flexible as they acquire new information to act
accordingly and rapidly—and to do that, it’s important to
be backed by trustworthy data insights.

85% indicate that poor quality contact data for customers

negatively impacts their operational processes and efficiency

How poor quality data impacts organizations
Wasted resources and additional costs

42%

Negatively affects customer experience

39%

Damages the reliability of / trust in our analytics

38%

Slows down ability to understand who our customers are

34%

Negatively impacts our reputation and customer trust

34%

Compromises our business agility / ability to adapt in the wake of COVID-19

33%

Slows down digital transformation initiatives

29%

Hinders compliance around our regulatory obligations

28%

Delays in fulfilment
None of the above / no issues from poor quality

27%
6%

A rapidly transforming market relies on agility in data management | Page 7

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2022 Global data management research
Data maturity helps deliver betterbusiness outcomesOver the last several years, data management has
become more and more important to organizations.
Trustworthy data replaces that gut-feeling and drives
innovation, customer experience, and decision-making,while also reducing operational risk and negative impact
to reputation. More companies are investing in people,
processes, and data technology to ensure they havereliable and accurate data to make better and faster
decisions for business growth. This is known as
improving data maturity.
Data maturity status
For this study, data management maturity is definedas the current level and scalability of an organization’s
data management program, taking into consideration
the people and resources, processes and strategy, andtechnology. We asked our research participants how theirorganization likely approaches data quality, here is how
they responded:• Only 6 percent believe they do not need dedicateddata resources as they make limited use of data forreporting, operations, or analytics; and their staff is
responsible for data-related projects or programs
to fix data quality issues as and when they arise.
• More than a third say that, although they have somededicated technology resources (some internal, someexternal), their time is mainly spent helping others
within the business with reports and analysis or
managing the technology stack. When data problems
are identified, they respond appropriately
by reallocating resources to address the issues.
• Another third of our respondents say that they havea data management strategy in place with dedicatedroles and technology. They are proactive in monitoring
their data quality on a regular cadence and proactively
work to ensure that incoming data is accurate andcomplete.
• Lastly, we find that a quarter of organizations havea fully developed data management program thatconsists of having an experienced team responsiblefor data assets and there is technology in place toPage 8 | A rapidly transforming market relies on agility in data management

manage, govern, and provide access to data users
across the business. These organizations allow broad
access to employees and have a culture of data-driven
decision-making backed by visualization tools anddata literacy training.
Overall, we see a clear shift toward greater maturity.
We find that companies have been investing in the people,
processes, and technologies required to improve theirdata management function. Our research shows thatdata and data management have become increasingly
important to businesses globally. Compared to a coupleof years ago, significantly less organizations have a limited
data management program, which shows organizations
are increasing their data maturity as they see the benefits.
Why has investment in data management become
more important?
Over the last year, our research shows that the morean organization invests in their data management,
the more likely they are to exceed their goals. We seethat organizations who have a fully developed data
management program are more than twice as likely tosurpass their goals (44% versus 19%) compared to those
who have some form of data program but may not havea fully functioning data team, process, or technology.
However, those who are still being proactive about theirdata quality and responding to data fixes are more likely
to meet or outdo their goals by over a quarter (73% versus
57%).
Our study also indicates that 75 percent of those who say
their data quality has improved in the last year have likely
exceeded their goals and targets. This can be compared tounder half (47%) of organizations where data quality hasremained the same. High-quality data has a very beneficial
impact on overall business outcomes.

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2022 Global data management research
The state of data accuracy
Data accuracy is the cornerstone to success—withoutit, organizations will continue to rely on that gut feelingand pass up the opportunity to make better andfaster decisions for business growth. Today, our study
uncovers that the reliability of data is slowly declining.
More precisely, a third say their customer relationshipmanagement (CRM) data is not great.
It’s important to note that our data also shows that morethan half of the organizations with a fully developed data
management program feel as though their records areclean and leverageable, giving them a jumpstart tohitting or surpassing their business goals and targets.
As organizations consider ways to manage datareliability, they should anticipate improved accuracy ofthe data in their CRM and other databases, reduced risk
to their business, and increased responsiveness to theircustomers.

94% believe having agility
in both business and datapractices is important inresponding to the pandemic

Agility is the answer
When leaders can act fast, customer data becomeseven more valuable. With the pandemic rapidly driving
change in consumer behavior and accelerating digitaltransformation, business leaders need to keep their teamon their toes. This is where data agility comes into play.
Ninety-four percent believe having agility in both businessand data practices is important in responding to thepandemic. Consider how much consumer sentimentand expectations have changed in the last couple ofyears; greater use of digital channels, increased interestin work from home, greater demand for local goods,
stronger interest in the environment and social causes.
Understanding the impact of such trends on each businessis vital to their success. On top of that, consider how fast
trends will continue to move with a digital landscape atthe fingertips of each person and organization. The focus
on digital transformation and online experience has madebusiness’s more reliant on data—and keeping up withthose changes makes data agility a necessity in today’s
world.
That’s why 9 out of 10 believe agility and flexibility are key
parts of being data driven. Being data driven is a response
to keeping pace with the competitive market. Withhigh-quality insights, business leaders can make better
predictions, while having the operational capabilities towork even faster to tackle more opportunity.

A rapidly transforming market relies on agility in data management | Page 9

Section 2: Agility: A modern must-haveThis year’s research shows that the market clearly understands the need forflexibility, with agility being more important than ever. Business agility, the ability
to pivot strategies, development, expectations, and engagement, has become acrucial element in navigating a chaotic operating environment.
Data agility has become a core pillar of building a supple business, one that can move and pivot quickly as new
information arises. In the simplest terms, data agility is the distance between the data that informs a decisionand the decision itself. Becoming data-driven—which in turn facilitates flexibility—is therefore a top priority forleaders around the globe. In this section, we explore business leaders’ beliefs around building and maintaining
a data-driven culture.

The definition of being data driven
Over the last couple of years, encompassing a datainformed mindset has been a key strategy for organizations
across industries. And, in the last year, we wanted to focus
on how data is being used to accelerate decision time toallow organizations to respond more rapidly to new andexisting, internal and external pressures.
Eighty-five percent of organizations say that it is more
important for their organization be data driven than a year
ago. This study uncovers exactly how businesses today
are defining what it means to be data driven, the role ofdata quality, the master minds behind data management,
and of course, the importance of having an agile system inplace. Here’s how executives today are defining data in theworkplace:
Trustworthy data
Year after year, we are seeing the importance ofhigh-quality data rise as digital transformation
accelerates and a wider range of roles gain
access. Our research cited 44 percent of respondents
believe high levels of trust in the quality of data is a key
indicator of being data driven. Furthermore, 91 percent
say data quality is an essential component of a data-driven
culture.

Page 10 | A rapidly transforming market relies on agility in data management

As we discover what else it means to have a data culture,it’s important to note that trustworthy insights are crucial
to a successful data management program. This iswhat drives the technology integration, builds trust andtransparency with team members, and ultimately what
promotes a data-informed team that can act and pivot
quickly when necessary.
Better technology
With high-quality data as the foundation of adata management program, organizations needto consider what technology is best suited fortheir organization. Four out of ten respondents say they arelooking for easy-to-use solutions, in turn this helps enable
data and business users alike to read, write, and argue withdata insights. Another prerequisite to the functionality ofthese solutions is the need for data visualization tools toenable insights to be easily communicated, says 36 percent
of respondents. More so, 39 percent are also looking
for speedy, flexible access to data that can be scaled asneeded. And lastly, 81 percent agree that they automate
more of their data management program to free up time tofocus on strategic activities.

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2022 Global data management research
The common thread here: The business users ability totake action on the data insights by having speedy access toaccurate data through user-friendly technology allows foreasy communication and analytics reporting. Not only does
the right technology and level of access result in a datadriven culture, but that also means an organization has themeans to work with more agility across several functions
like sales, marketing, finance, customer service, and so on.
Best data practices
As access to data ramps up through userfriendly technology, it’s important to instill
best practices to further enable data andbusiness users. Best practices not only ensure alignmentand consistency with how data is managed across anorganization, but it can be a way to keep quality control
and permit a fast-paced environment.
Our research finds that over a third of respondents sayagility or flexibility in both data and business practices
clearly defines what it means to be data driven. Agility also
makes employees feel empowered and that they
can tackle obstacles readily, as they have the correct dataat their fingertips to make the right decisions. When an
organization shares this common purpose and provides
the means to do it, then it becomes a true competitive
differentiator.

Companies continue to hire data roles for their organization.
Our research shows that 85 percent of organizations are
hiring data roles, which is the same as the year prior. The
top jobs that these companies are investing in within thenext six months include data analyst (30%), data quality
analyst (29%), and data engineer (23%), which has also
remained the same since 2020.
A data-driven approach goes a long way. Our researchfinds that the top three areas where most impact is seenor is expected because of being data driven are analytics
and reporting (50%), daily operations and logistics (45%),and digital transformation (43%). Now is the time to havethe means to back business decisions with well-rounded,accurate data and the ability to be agile.

9 out of 10 believe agility
and flexibility are key parts ofbeing data driven

Data masterminds
As organizations are investing in their data
maturity, a team of data professionals
becomes a key sign that the data management
program is growing. Not only will a team of data analysts
allow for better management, but this gives business users
a resource to lean on as they scale their own use of insights
for each department.

A rapidly transforming market relies on agility in data management | Page 11

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2022 Global data management research
How to keep data sharp
When there is data agility, there is business agility. Ina time where the market and trends are accelerated,
responsiveness across business operations is a musthave as organizations respond to the rapidly changing
competition. In our study, we find that the majorityof organizations (97%) have plans to make their data
management program more flexible and agile over the
next year. Let’s unpack what this looks like and the role ofpeople, processes, and technology.

Our research shows that organizations are focusing on
the following to become more agile in data management
programs: creating better trust in data through improved
quality (43%), integrating better technology that is easy
to use (42%), improving the data experience for users(41%), cultivating data transparency (39%), and increasingdata literacy training (35%). All of which, complement
the existing definition of a data-driven business and thestrategy to grow data maturity.

How organizations are defining what it means to be data driven
High levels of trust in quality of data

44%

Easy to use data management tools

40%

Speedy, flexible access that can be scaled as needed

39%

Agility or flexibility in both data and business practices

36%

Data visualization tools to enable insights to be easily communicated36%

A culture that adopts and uses data and insights regularly

35%

Highly personalized and relevant data depending on the user

33%

Supports changing our upcoming business initiatives

33%

Tools and technologies fully integrated to remove data silos

31%

Supports data literacy and data democratization initiatives

29%

Data democratization (providing access to a wider range of roles within the business)
Don’t know

Page 12 | A rapidly transforming market relies on agility in data management24%
3%Benchmark report

2022 Global data management research
PeopleThe people behind an organization are key
drivers to keeping data sharp and actionable.
Data democratization, defined as granting
a wider range of roles access to data and data insights,
is an important strategy when it comes to an agile data
management program.
Eighty-three percent of respondents think data
democratization supports agility and flexibility within theorganization. Data democratization, underpinned by theright tools and data literacy, can enable users to work more
efficiently with the support of accurate data and insights.
To further enable business users to leverage highquality data for decision-making, organizations think data
democratization can sit alongside smaller, highly skilled
data teams to maximize agility. Not only does this act as a
general resource but it can also aid in data literacy training
and promote a positive data experience.

Technology
As data quality is the basis to a data-driven
operation, technology is the medium thatputs the insights into action. In turn, this isa tool that allows for an agile data infrastructure. Our
research finds that 88 percent of organizations believethat integrating data quality capabilities into existing
applications helps them increase agility and flexibility.
By fixing data accuracy issues at the source, organizations
are ensuring a credible and reliable flow of accurate data.
With the right technology, one that is user-friendly withquality control and visualization functionality, business
users and data users alike have the ability to work
effectively and efficiently with the right information attheir fingertips.

Processes
Data agility relies on streamlined processes
from capturing data to managing anddemocratizing the data and finally, to decisionmaking. To ensure flexibility is ingrained throughout theprocess, it’s important to ensure data quality control, datatransparency, a great data experience for users, wellinformed best practices, and the right technology that is
adopted by the organization.

How organizations are planning to become
more agile and flexible in data management
Better trust in data through improved quality

43%

Better technology that is easy to use

42%

Improving the data experience for users

41%

Improving data transparency

36%

Increasing data literacy training

35%

Implementing DataOps into our business (the automation and monitoring at all steps ofthe data pipeline construction, from data integration, testing, releasing to deployment...

33%

Integrating data quality solutions into existing CRM or eCommerce platforms

32%

Clear data ownership

25%

Senior leadership buy-in

24%None of the above3%

A rapidly transforming market relies on agility in data management | Page 13

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Benefits of an agile data management program
Organizations recognize the importance of having agile
and flexible practices. In fact, we find that 82 percent ofrespondents think a lack of data agility would put themat a competitive disadvantage. It’s clear that being able
to think and pivot quickly is more than an added benefit
to an organization but a necessity in this age.
Our research shows that 92 percent of businesses believe
agility would enable better decision-making acrosstheir operations. Almost as importantly, those sameorganizations rank being data driven as having significant
impact on the customer experience (91%), operational
efficiency (91%), business resilience (90%), and digitaltransformation (90%). By embracing data agility and theneed to build a data-driven culture, areas of improvementin the business become strengths and have a positive,
transformational impact.

92% ofbusinesses believe
agility would enable
better decisionmaking across theiroperations

Benefits of an agile data management program
Better decision making

92%

Customer experience

91%

Operational efficiency

91%

Business resilience

90%

Digital transformation

90%

Innovation89%

Cost savings

89%

Revenue88%

Customer retention

85%

Customer acquisition

84%

Changed customer behaviors

83%% saying yes definitely or yes probably

Page 14 | Data experience: The data-driven strategy behind business growth

Section 3: Quality matters
Now more than ever, data quality matters. In a fast-paced, digitized world, highquality data is vital to allow businesses to achieve operational efficiency, deliver
enhanced customer experiences and facilitate better decision-making while being
ready for anything.
Data is considered high quality when it can be efficiently processed, analyzed,
and acted upon to serve its intended purpose. Holding quality data allows abusiness to communicate effectively with their customers, determining theirindividual requirements, and providing insights that lead to innovative ways toserve their personal needs and wants.
The pandemic highlighted the critical importance of data quality as companies had to pivot nearly overnight
to communicate with their customers almost exclusively through digital channels. Alongside this shift came adramatic increase in customer expectations and an appetite for seamless customer experiences. To effectively
reach customers, deliver what they require when needed, and maintain business goals and profitability, it isessential to keep accurate, trustworthy, and agile data.
In this section, we will tap into the reasons data is essential to keeping the customer at the heartof the business, especially in an everchanging market.

Keeping customer centricity
Customers today have more choices than ever before. As
a result, expectations have increased, and if these are notmet, another brand will be chosen. This puts increased
pressure on businesses to not only deliver higher quality
products and services and a better customer experience,but to also operate with speed. Our study found that overhalf (52%) of respondents say that the top business priority
for the next year is to improve the customer experience.
To achieve this, organizations across all industries are
moving beyond the traditional product or sales strategies
to embrace customer centricity. Being customer-centric
is more than delivering a great customer experience or
exceptional levels of customer service. It is about adopting
a company culture that places the customer firmly at thefront and center of the business, incorporating them inevery single decision and action the company takes.
Page 15 | Data experience: The data-driven strategy behind business growth

Being customer-centric is critical for growth, to have theedge over the competition, and to increase visibility andpopularity in the eyes of your customers.
When asked how data management can enable customer
centricity over the next 12 months, respondents cited
greater operational efficiency (48%), better customer
experience for customers offline and online (44%), better
management of resources in-line with demand (41%),
improved innovation (40%) and focus on better data, notmore data, from customers (40%). Keeping customers
at the heart of a business relies upon collecting andmaintaining high-quality data which can be used to develop
a complete, trusted, and intelligent view of customers.
This information is critical to uncover insights to create
highly segmented, personalized, and authentic experiences
across all channels at each stage of the customer journey.

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Quality data helps businesses accurately and confidently
identify customers at each stage of their buyer journey toprofile and build buyer segments, customize offers, andserve meaningful personalized interactions. This is only
possible through robust data management initiatives toensure that the data held is accurate and up to date—andgives a clear picture of changing customer needs and how
to adapt to effectively meet them. Eighty-eight percent ofrespondents to our survey say that data management has
allowed them to keep up with understanding customers’
rapidly changing needs impacted by the pandemic.

Reaching customers
Data constantly evolves as customers move, change theircommunication preferences, and set up new accounts.
Without a comprehensive view of who customers are andhow to reach them, organizations will not have a way tocreate and maintain a great customer experience, which isessential in today’s digital age. Data quality plays a criticalrole in connecting and staying in touch with consumers
across various channels, which is why our research
uncovers the importance of getting back to basics withquality consumer contact data.

Without a proper data management process to eliminate
silos and maintain clean, accurate customer records, there
can be gaps in insight. Furthermore, insufficient data quality
leads to poor performance, which quickly gives rise to a
reputation that a business that cannot deliver. Our study
found that 88 percent say that being data driven helps themstay on top of customer needs and market trends. Whendata is of excellent quality, it can be easily processed andanalyzed, leading to insights that can help businesses makebetter decisions and provide a uniquely tailored experienceto their customers.

88% say that being
data driven helps
them stay on top ofcustomer needs andmarket trends

How data management can enable more customer centricity in the next year
Greater operational efficiency

48%

Better customer experience for customer offline and online

44%

Better management of resources in line with demand

41%

Improved innovation, development of products and services

40%

Focus on better data not more data from customers

40%

Greater employee / business user empowerment through data

39%
38%

Improved data security and transparency / reduced risk

35%

Seamless digital experience for customers
Enhanced customer segmentation

31%

Data-driven pricing optimization

30%

None of the above

2%

Data experience: The data-driven strategy behind business growth | Page 16

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Back to basics – contact data quality
Customer contact data is an organization’s greatest asset.
Our study shows that 89 percent of businesses say contact
data has become more important than ever to reach theircustomers during the pandemic and now. However, withorganizations now managing up to 20 databases, matching
the records to create a single customer view has become
essential to understanding the buyers’ journey.

Achieving data quality aims to provide consistent,
complete, and accurate data throughout an organization,
making a positive impact from customer experience tocompliance regulations. Without data management andcleansing, inaccurate, incomplete, or irrelevant data canundermine operational efficiency, impacting top priorities
like customers.

Gathering, consolidating, and maintaining reliable customer
data is fundamental for success. It allows organizations
to effectively service and communicate with customers,
whether that’s sending them physical goods or criticalinformation in a timely manner or relevant, targeted, andoften mandatory communications that inform, educate,and inspire. Clean, quality data not only saves businesses
time and money, but it also boosts trust and, in turn, helps
deliver an excellent customer experience.

Staying in touch with customers
These days, organizations have several channels throughwhich they can reach out to and stay in touch with theircustomers—from traditional channels like email andphone to innovative ways like social media. With digital
acceleration, these businesses are seeing the value of thedata they have gathered from their digital activities andare seeking to use this to create seamless, multi-channelinteractions and highly personalized customer experiences
for added convenience.

Ensuring the customer contact data organizations holdis accurate and complete is critical, particularly now that
customer interaction is almost exclusively through digitalchannels. Ninety-three percent of respondents say thequality of contact data has become more important overthe last 12 months. The key reasons for this are to enhancethe overall customer experience (51%) to better enable
customer identification / verification (46%) and to meetincreasing compliance or governance requirements (43%).

Email data
Today and over the next year, organizations
believe email to be the most powerfulcommunication tool, with 72 percent ofrespondents stating that it is the channel most relied upon
to reach and stay in touch with customers. Moreover, overhalf of these same respondents believe it will continue tobe the most important type of contact data over the nextyear.

89% say contact

data has become
more important thanever to reach theircustomers during the
pandemic and now
Duplicate records, inconsistencies, or input errors cansignificantly hinder an organization’s ability to reachcustomers and provide that excellent experience they
demand. As CRM databases fill with inaccurate andoutdated customer records, developing a holistic view of
each customer becomes increasingly difficult.

Page 17 | Data experience: The data-driven strategy behind business growthWith email playing such a vital role in communications,
it is critical that the information held by organizations
is accurate. If an organization consistently sends email
campaigns to incorrect addresses, this will likely result ina moderate to high email bounce rate. In that case, thesecommunications will also likely end up in SPAM folders,or worse, the sender will find themselves blacklisted.
What’s more, poorly targeted messaging may lead to a highunsubscribe rate and damage brand loyalty. The bottom
line is that conversion rates from email campaigns will fall
and the effectiveness of the campaigns will decrease overtime.
Phone data
Phone data is also a key contact type withover half of respondents saying they rely on
this channel as a way to reach and stay intouch with customers, and 42 percent believe this willcontinue to be an important type of contact data over theBenchmark report

2022 Global data management researchnext year. Harnessing phone data provides a substantial
return on investment due to the high engagement rate. It
also provides an excellent method of enabling two-factor
authentication to boost security and privacy.

be one of the most important types of contact data going
into the next year. Especially in a digital-first environment,
physical mailing addresses are critical for delivery andmaintaining a well-rounded customer experience.

Identity data
Our research shows that about half oforganizations believe that identity data,
which is defined as name and data of birthin this study, to be important information in the next
year. Identity data may enable a single customer view toverify a customer is who they say they are and gives theorganization a means to personalize outreach efforts.

Social media data
Organizations are now also seeing acustomer’s social media handle as a valuablepiece of contact data. In our research, 44
percent of respondents say they currently rely on social
media handles and identification to reach and stay in touchwith customers, while 41 percent believe that this will be an
important type of contact data over the next twelve months.
Social media handles can give an insight into a customer’s
preferred platforms alongside their habits, interests, likes
and dislikes. It can also be helpful to inform decisionmaking around areas to invest in, for example customer
service, to engage with customers in real time.

Although this is critical in a digital environment, this canalso aid in face-to-face interactions as almost half (49%)
of organizations say they have relied on this type ofchannel to reach and stay in touch with customers.
Location data
Also seen as delivery point data, we find that
42 percent of organizations believe this toOverall, email remains an important and reliable form ofcontact now and in the future. We find that organizations
have also been relying on phone, face to face, and social

93% say the quality of contact

data has become more important
over the last 12 months

Data experience: The data-driven strategy behind business growth | Page 18

Benchmark report

2022 Global data management research
media data to reach and stay in touch with customers. In
the next year, we see that organizations believe identity
data, location/delivery point data, phone data, and social
media handles will be the most important forms ofcontacting customers as they utilize digital outlets.
Data gives every business its competitive advantage,
however, the quality and reliability of that data isparamount. Investing in robust data quality management
will save time, remove inconsistencies, incorrect, andduplicated data, and keep organizations compliant. Data
quality is also critical to enable more accurate decisionmaking, particularly when it comes to communicating withand retaining existing customers and winning new ones.

Channels relied on most to reach and stay in touch with customers
Email

72%

Phone / voice

52%

Face to face (e.g. in store, branch, events)

49%

Social media

44%

SMS / text message

36%

Mail / post

32%

Via mobile app

31%

Other

1%

Types of contact data most important over the next year
Email data

59%

Identity data (name, date of birth)

51%

Location / delivery point data

42%

Phone data

42%

Social media handles / identification

41%

Address data
Other

37%
1%

Data experience: The data-driven strategy behind business growth | Page 19

Conclusion
Globally, we are still seeking stability since
the start of the health crisis almost two
years ago. Since then, business leadersacross industries have been met withnavigating health and safety precautions,changing regulations, competitive uprise,
digital acceleration and changing consumer
behaviors. In a fast-paced, digitalfirst environment, an agile and flexible
operation is a must-have to effectively
respond to these everchanging consumer
needs while simultaneously delivering aseamless customer experience.

Today, business leaders realize that to have businessagility they need data agility—and high-quality insights
must be accessible to take swift action. We are seeing
more and more organizations focusing on their data
maturity and data management as an important part ofbusiness best practices. As organizations invest in thematurity of their data management programs, they seek
ways to build a sturdy yet flexible infrastructure throughtrustworthy data, user-friendly solutions, and data
masterminds. In turn, benefits of agile data practices
result in improved customer experience, operational
efficiency, and digital transformation. All of which areessential to business growth in today’s competitive
realm.
As a data program matures, organizations are now able
to tap into their consumer data to understand who theircustomers are, what they need, and how to reach them.
With a constant flow of trustworthy and reliable insightto teams across the business, a data-driven culture canbegin to flourish. This allows customers to remain at theheart of every business, and across every department.

Key learnings
Across this report, we have looked at key trends around data agility and quality management; we have provided insight on howorganizations can rapidly respond to market shifts today and in the future. Here are a few of the key findings from the report:
Learning 1

Learning 2

Customers remain a top priority

Bad data impacts efficiency

Customer experience has been top-of-mind for years.

With organizations managing a large number of databases,

Businesses that invest in their customer data quality are

creating a true view of today’s buyers’ journey is essential

likely to reach or exceed their goals. Buying behaviors

to maintaining operational efficiency. Data quality becomesmay change, but brand loyalty will remain the same.

a key driver in allowing large volumes of data to beactionable across the entire business and beyond.

Learning 3

Learning 4

Data accuracy is more
important than everAgility in data management is key

While digital acceleration has resulted in increased volumes

to quickly respond to rapid market shifts. For betterof data, the pandemic has pushed consumer contact data to

and faster decision-making in a chaotic economy,

decay faster than ever. With higher chances of invalid data,

organizations realize the importance of agility indata accuracy measures ensure organizations can reach

their data management program.

and stay in touch with the right customers.

Page 20 | Data experience: The data-driven strategy behind business growth

In a fast-paced environment, business agility is key

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