A number of information suppliers have recently quoted The Data Warehouse Institute in regard to the cost of poor data quality.
The Data Warehousing Institute estimates that poor data quality costs U.S. businesses over $600 billion per year.
Sales and Marketing – Inaccurate address data translates into significant waste in materials, labor, time and postage, not to mention lost sales and marketing opportunities.
Mailing/Fulfillment – Deliveries may be late or returned, meaning additional handling time, and possible repackaging and more postage costs. Many carriers charge Address Correction Penalties too. Customer Support – When mail or packages don’t arrive, this puts pressure on customer support. The reputation of a company may also be damaged. Finance – Payments arrive late or not at all, affecting cash flow. Don’t underestimate the cost of bad address data. It causes inefficiencies and raises costs across an entire organization.
You may ask yourself the question: How much is it costing your business?