{"id":6726,"date":"2024-10-24T16:47:31","date_gmt":"2024-10-24T20:47:31","guid":{"rendered":"https:\/\/solutionsreview.com\/data-management\/?p=6726"},"modified":"2024-10-31T10:59:27","modified_gmt":"2024-10-31T14:59:27","slug":"from-bad-data-to-bad-outcomes-how-flawed-collection-hurts-businesses","status":"publish","type":"post","link":"https:\/\/solutionsreview.com\/data-management\/from-bad-data-to-bad-outcomes-how-flawed-collection-hurts-businesses\/","title":{"rendered":"From Bad Data to Bad Outcomes: How Flawed Collection Hurts Businesses"},"content":{"rendered":"

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Smart Communications’ Sally Schulte offers insights on how flawed collection hurts businesses. <\/strong><\/em>This article originally appeared on Solutions Review’s Insight Jam<\/a>, an enterprise IT community enabling the human conversation on AI.<\/strong><\/em><\/p>\n

As businesses become increasingly dependent on data to drive innovation and guide automation, data quality has never been more crucial. High-quality data gives organizations confidence in their decision-making, data management, and compliance processes \u2013 and offers a huge advantage when looking to leverage AI and ML within the business. The impact of its low-quality counterpart is extensive and costly, both financially and in terms of the missed opportunity they create.<\/p>\n

Despite its importance, collecting high-quality data presents a significant challenge for many organizations. A 2022 study revealed that 77 percent of companies face data quality issues<\/a>, and 91% of respondents said these issues directly impact their company’s performance. When approaching the improvement of data collection, companies need to reconsider whether the technologies they are using can deliver the digital experiences people expect and the data quality they need.<\/p>\n

The Important Connection Between<\/strong>\u00a0Data Collection and Data Quality<\/strong><\/h3>\n

Even now, in the digital age to date, most organizations rely on a combination of highly manual, outdated data collection processes made up of paper forms, fillable PDFs, Word documents, and confusing spreadsheets. These processes are not only inefficient for companies to manage \u2013 and almost impossible for them to secure \u2013 but they are incredibly frustrating for customers.<\/p>\n

Data shows the acute impact of data collection interactions on customer experience (CX) and customer retention. According to the 2024 Smart Communications Benchmark Report, 67 percent of customers will abandon interactions due to complex data<\/a> collection processes \u2013 and 66 percent of customers are likely to change companies if their communications expectations are unmet.<\/p>\n

And these processes jeopardize more than just customer experience. They impact data quality because of:<\/p>\n