According to Experian, a lack of trusted information is driving data quality tool adoption to improve the customer experience and operational efficiency
Experian announced its position as a Challenger in the Gartner 2017 Magic Quadrant for Data Quality Tools report based on Experian’s completeness of vision and ability to execute.
In today’s digital economy, data has become an essential part of any business. Data can be used to improve efficiency, manage the customer experience and make strategic decisions. Despite the numerous benefits that data can provide, however, most organizations say they do not trust their data to make meaningful decisions when revenue and compliance are at stake.
To that end, a recent Experian Data Quality study revealed that businesses believe 27 percent of their data is inaccurate, and another 52 percent of organizations rely on educated guesses or gut feelings to make decisions based on their data. As businesses look to increase the level of confidence in their data, industry reports around data quality tools can be especially helpful for selecting an effective solution.
“Trusted data is essential to today’s business operations,” said Jonathan Hulford-Funnell, global managing director, Experian Data Quality. “By having a firm understanding of data and making sure it is of the highest quality, organizations are able to improve the way they interact with consumers, which allows them to stay more competitive in the digital economy.”
For many organizations, current data management practices are less than ideal. Many are looking to make significant changes to those practices, with 95 percent of organizations stating they have a data management project planned in the next 12 months.
“Users across the business want to gain insight from data, but they need to quickly implement data quality solutions in order to realize value from their investment,” added Hulford-Funnell. “Experian empowers our customers to better understand their data assets and to transform their businesses. We help our clients tackle their data projects with speed and agility, giving them the confidence and clarity to put their data to good use.”
To download a complimentary copy of Gartner’s 2017 Magic Quadrant for Data Quality Tools report, visit https://www.edq.com/analyst-insight/gartner-magic-quadrant-data-quality/contact-form.
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Source: Experian Press Release