Data plays a crucial role in business success, yet many organizations are failing to harness the full potential of this vital information due to the poor quality of the sources they use.
In this post, we’ll dive into the importance of data quality and reveal the incredible process improvement opportunities that businesses can gain by having access to this valuable data. Stay tuned!
Discover some opportunities that data quality can provide
Data quality plays a crucial role in optimizing a company’s internal processes. When data is accurate, up-to-date, and reliable, internal operations flow efficiently and effectively.
However, many companies still face challenges related to accessing quality data. However, overcoming these obstacles presents several opportunities to achieve better results. Here are some of them:
Financial Data Onboarding
During the financial data onboarding process, the goal is for companies to obtain relevant information about customers in a transparent and secure manner.
To achieve this goal, it is essential to minimize friction and impacts perceived by the user as much as possible. The smoother and more invisible this process is, the better the customer experience will be.
To achieve this fluidity, it is essential to have access to a collection of high-quality, up-to-date data. This accurate data contributes to accurate customer identification and fraud prevention, while ensuring the security of personal information.
It is important to emphasize that user security and privacy are treated with due importance, following the guidelines of the General Data Protection Law (LGPD).
Regulatory risk mitigation
Data quality plays a key role in mitigating regulatory risks . In highly regulated industries such as finance and healthcare, it is essential that companies maintain data that is accurate, up-to-date, and compliant with applicable laws and regulations.
An effective way to address regulatory risk mitigation is to use public sources to minimize the information requested, validate the answers provided, and seek out russian phone numbers information that people are unable to answer. This approach helps ensure regulatory compliance, while avoiding legal issues and potential sanctions.
Generation of segmented bases
The strategy of generating segmented bases is a vital component for the success of any company, and data is the fundamental foundation of this practice.
Using detailed data about companies and people, it is possible to perform refined segmentation based on various criteria, such as:
Geographical location;
Sector of activity;
Company size;
Billing estimate attributes;
Credit quality;
Digital presence;
Use of technology;
Purchase history and more.
More precise targeting provides a better understanding of the target audience, allowing businesses to focus on specific groups that are most likely to engage and convert.
One notable solution that gives you the autonomy to access high-quality data like this is BigLead . It stands out in the market for its integration with BigDataCorp’s Data Platform, providing an unparalleled breadth and depth of information.
With BigLead, companies have access to a variety of segmented and relevant data, driving their strategies.