What Is Data Quality? 3 Importance for Your Business

Data means everything to the people who are in the business. Most people are aware of the value and insights they might derive from data. Because, as you know, knowledge is the most valuable resource, and no one will give it to you without an exchange.

However, data is precious if it is only derived from a good source. This means the data needs to be high-quality. Data that is devoid of high quality might cause a huge loss. In other words, it is clear that the data have to be quality, you must measure it well to help your business. Let’s see where to begin.

What is Data Quality?

There are many factors that improve data quality. Let’s see them together:

Accuracy

You don’t need to be an expert to understand the value of accurate data, actually. Most marketers defend that accuracy is one of the most important factors in purchasing decisions. Well, accuracy gives you the real-life conditions of your target customers. On the other hand, if you follow misleading data, that will create an issue. Because you don’t track the truth. When the actions your company made depend on false data, your expectations are not satisfied automatically. Think about a really easy example, let’s say you think your target customers are young women who are single, have no child, and continuing their degrees. However, you find out that your data is incorrect and indeed, your target customers are adult men who are in their fifties, divorced, and bald. In this scenario, your marketing campaigns will not satisfy the expectation.

Completeness

Your data need to be complete in order to serve you at its best. If your survey questions are not completed by your customers, you have gaps in the data. That could be the age of customers, their gender, their demographic conditions, their consuming behavior, or anything else that comes to mind. If your data is deficient, you might be getting in trouble with misleading results. Thus, your days and night that be spent on the corporate’s new ad campaigns might be ended up with nothing.

Relevancy

Yes, we know data is important. In fact, high-quality data is important. However, you need to be sure about the data that you have collected. Are they really relevant? Are they useful for your companies? Don’t try to access all the data that you don’t need, it will only consume your valuable time. You have to be sure if the data is relevant to the company’s goals.

Validity

This time the important thing is how the data is collected rather than the data itself. Your data is only valid if it’s in the right format, type, and range. Let’s say you want to measure users visiting time of your website, you need to decide which format you may use.

Timeliness

Timeliness is about the recentness of an event which is represented by data. Clearly, your data need to be recorded as soon as possible after the real-life event. Data tends to be being less useful and correct as time goes on. To avoid that problem, you need to make sure that the timeline between the event and the time that event is recorded via data are consistent. Outdated data might be harmful to the accuracy of the research. Likewise, the results are might ended up being inaccurate.

Why Data Quality is Matters?

As the technology is improved, data management techniques are also improved. In this way, businesses find themselves in the middle of a competitive environment. Many companies are aware of the value of data, and they use data to improve their marketing campaigns, products, finance, and so on. It can be said that companies that cannot catch the developments in terms of data are sentenced to fall behind. As you know, the more high-quality data, the more benefit you can derive from it. With the same logic, misleading and deficient data could harm your company.

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Integration of the data into the business’ operations might be influential on the marketing, sales, content. In this way, the data needs to be organized and maintained.

How Does Measuring Data Quality Help Your Business?

Data management is the building block of a company. If companies want to survive in this competitive market, they have to keep up with it and have to be aware of opportunities. High-quality data provides lots of benefits to businesses. Let’s see them together:

Informed Decision-Making

As your data accuracy is increased, your decision-making will be faster and more consistent, too. Improved data helps to decrease risks to businesses and provides consistent decisions.

Better Audience Targeting

As we talked about before, consistent and accurate data improve the examination of target audience quality. When you know the most important information about your target audience, your actions will be more correct.

Effective Content and Marketing Campaigns

When you know better about your target audience the quality of marketing campaigns will increase, too. In this way, you will be able to create more relevant contents that appeal to your audiences.

Scraping Data

You can scrape data from the web. Either automatically or on your own. Scraping is one of the easiest and most reliable ways to gain data. Web scraping is also known as data scraping, is the process of gaining info -or in our example, data- from websites.