Customer Data Quality
Overview of the importance of Data Quality
Data Quality is a business problem - NOT an "IT only" problem. Good Data Quality delivers significant ongoing cost reductions, improved efficiencies and better brand perceptions through improved customer service.
Data quality is therefore a critical foundational aspect of any business processes that rely on data for the results. Only approximately 64% of staff typically trust their customer data to be sufficiently accurate for them to do their function satisfactorily. Call centres are known to voice their concerns about contact data quality as they are at the coal face, but generally they get less than priority attention to the problem. However the ROI on improving contact data quality normally exceeds costs many time over, due to the wasted labour cost being the largest cost component.
However as soon as a process for creating a Single Client View or a Household / Address view is attempted (which has huge value when done with strategic intent) then the wheels begin to fall off.
Please see a selection of key Data Quality Improvement solutions below.
Our Data Quality Improvement Solutions
Important for: IT, CIO, CDO, CDS
FREE Data Quality Report
This FREE solution checks the quality of a 3% or 3,000 random sample of your customer records.
It provides a FREE report detailing the quality of structure and validity of all typical customer contact fields: ID Number, Title, Name, Address, Cell number, Landline number, Residential address, PO Box address, Email, etc.
This FREE report then provides an important factual basis for deciding on the value of a project for restructuring and improving the quality of some or all customer data for Master Data purposes.
Once the requirement has been determined, EI can assist with all aspects of supplying validated/updated/re-structured data along with the provision of additional variables for analytical or business risk/fraud purposes.
Due to the structured data supplied back as part of the this solution, there are numerous additional advantages, an example being that it is then possible to determine common addresses and therefore to create a "Household" model associating ll persons with the same address.
Note: This solution does not update/validate the contact details linked to a person - that is the purpose of the Customer Contact Update solution.
This solution has the following major benefits:
It enables the IT department to check the quality of the customer data held in the Master Database to determine if the quality meets the required standard.
If the data does not meet the required standard then EI offers a number of solutions to update,validate and enhance the data with extra variables for Analysis.
This enhanced data is supplied in separate fields which can be interrogated by SQL, R and SAS queries.
This solution can be combined with our full Contact Update or Contact Update PLUS solutions to enable improved value across company departments and facilitate shared budgets.
Important for: Call Centre, Marketing, CIO
Customer Contact Update
This Customer Contact Update solution updates your customer records with the latest contact details of your customers from the combined data from all credit providers in South Africa in order to enable you to maintain your customer data accurately, as required by legislation.
It updates all typical customer contact fields linked to a customer/person where the data is available: Title, Name, Address, Cell number, Landline number, Residential address, PO Box address, Email, etc.
IA Option: There are numerous additional advantages of requesting a more detailed/validated structured output file, an example being that it is then possible to determine common addresses and therefore to create a "Household" model associating all persons with the same address or living in the same suburb/street etc. If the addresses have been formatted to the same standard then it is also easy to determine if the person has a new address - or is still living at the address on file - and for many companies this is a very important factor for risk and marketing purposes (stability).
In addition to delivering the updated data files, a comprehensive report is also supplied on all the main metrics which details how many records were updated by all the key update categories.
This solution has the following major benefits:
It enables you to update all your contact data at once with the latest contact details which will make your outbound Call Center and Marketing more efficient and motivated as well as save wasted costs.
It enables you to independently audit/confirm that all the contact details you hold are correct.
Through this process, potentially wrong/fraudulent details can be identified for further investigation if necessary.
It improves call center efficiency, performance and Agent confidence levels for outbound servicing and up-selling purposes, if the phone number is known to be accurate which yields better connection an conversion rates.
Important for: IT, CIO, CDO, CDS, Call Centre, Analytics, Advertising, Marketing, The C Team
Customer Contact Update Plus Analytical Insights
This gives you all the benefits of the (2) Customer Contact Update solution and in addition we supply additional variables that assist with internal customer analytics and provide valuable insights into your customer profiles.
This provides your internal analytical team with new variables that can assist with cross-selling/ up-selling, retention modelling, Fraud detection, marketing segmentation, etc.
Enhanced and standard variables are grouped into the following categories:
Modeled variables (Likelihood of response, economic activity status, etc.)
A simple example in the Location group is that when we validate/restructure a residential address we also can supply the following address elements/categories back in addition to a correct valid Residential Address:
Address Type (House, Flat, block of flats, etc)
Country (SA and all other countries)
NB: Technically we separate every element into its own field i.e 12 Shady Lane becomes 3 fields so that we can then validate each element after validating the Suburb first within a Country, etc.
Important for: IT, Data Stewards, CIO, CDO, Call Centre
Onsite Data Quality Software Solutions
We have two data quality software solutions that can be licensed and implemented onsite at the Clients premises.
InfoArchitect is a software solution for resolving / auditing the data quality of addresses and other contact details as a complete single record (post data capture) or as a batch of records. It is typically used by companies taking on large quantities of customer application records / contact details on a regular basis.
AddressXpress uses the same data validation tables as InfoArchitect but is designed for online real-time data capture purposes in Call Centres or Application capture / Client service departments.
Both software suites are server based and can be configured for most environments.