Data Quality Management for SMEs - Part One
In this series of blogs, I will be delving into the world of Data Quality Management in small to medium enterprises. In my many years of data management experience, necessary processes are not always seen as a “must have” and this seems to be rife in smaller organisations. These are less likely to be governed by stringent guidelines and rules or simply don’t have the IT or marketing resources to formally manage this. They soldier on, collecting data, maybe using the business model and processes they have been following since they were established. It works so why change it? I have often heard this reaction, especially in fast paced transactional businesses...
Businesses realise that profits aren’t what they used to be and acquiring new customers isn’t as easy as it historically was. We all know that customers are now savvier with their money and aren’t necessarily providing the repeat business that they previously blindly provided as loyal customers. Times are changing, as are the strategies businesses need to employ to acquire and keep their customers.
The growth in the use of digital capabilities and the volumes of data that can be accessed has made this a more important consideration. Active data gathering and the utilisation of that data for communications and interactions with their customers is becoming more and more important. This needs to be coupled with effective and essential management of the data quality. The data needs to be fit for purpose.
Over the next four blogs, I will talk about the basics of data quality management and how this can be introduced into the business without the big price tag. Watch out for my next blog focusing on data quality assurance when collecting data!