Contact data quality statistics from Experian Data Quality
Inaccurate contact data can be harmful to an organization and may cost your company millions of dollars each year. Organizations that focus on contact data quality improve data-driven operation, marketing and general business initiatives. Consider the statistics below:
- On average, U.S. organizations believe 32% of their data is inaccurate.
- 99% of companies believe data is essential to their marketing success.
- 78% of companies have experienced email deliverability issues in the last 12 months resulting in an inability to communicate with subscribers and poor customer service.
- 97% of companies suffer from common data errors, the main cause of which is human error.
- 83% of companies struggle to link customer information across channels.
- Only 24% of companies state they have a single customer view in place.
- 91% of U.S. companies believe their bottom line is affected by inaccurate and incomplete data and on average, respondents believe 27% of revenue is wasted.
- 63% of organizations lack a coherent, centralized approach to data quality.
- 81% of retailers have encountered problems with loyalty programs - one of the main drivers being inaccurate customer information.
- 96% of retailers can attribute revenue to email marketing efforts, but 67% have experienced email deliverability issues in the last 12 months.
- 56% of retailers are capturing customer contact data through mobile applications, either through a mobile website or mobile application.
- On average, retailers interact with customers across 3.4 different channels.
- 94% of retailers are leveraging data and data quality in an attempt to optimize their customer experience.
- 87% of financial institutions encounter problems when trying to generate meaningful business intelligence and data inaccuracies are lately to blame.
- 90% of financial institutions plan to make some sort of data quality solution a priority in the next 12 months.
- 48% of financial institutions maintain high data quality for compliance with industry and government regulations.
- On average, financial institutions feel 21% of their revenue is wasted due to inaccurate and incomplete customer or prospect data.
Successful marketing programs must have accurate contact data across all communication channels to ensure successful interactions with customers.
- 87% of companies now engage in cross-channel marketing and 84% face a challenge in this area of their operation.
- On average, companies can attribute 32% of their revenue to email marketing efforts.
- 90% of companies conduct email marketing campaigns, which is the most popular communication channel for 2015.
- 78% of companies have experienced email deliverability problems in the last 12 months.
- Contact data tops the list of data deemed to be essential to marketing success, followed by sales data and demographic data.
- 95% of companies feel driven to turn data into insight.
The data quality benchmark report 2015.