What is the Impact of Poor Data Quality in Business?

Data plays an important role in any business, allowing businesses to improve targeting, optimize internal operations, and successfully drive innovation. As businesses look to adopt the latest technologies, the accuracy, and quality of data become important for business growth. Poor data quality negatively impacts business creating both long and short-term issues which impact your ROI.

So, what is the Cost of Poor Data Quality?

According to research by Gartner poor data quality costs businesses an average of $9.7mil per year, making errors extremely costly for business. Not only does poor data impact your financial resources, it also negatively impacts your efficiency, productivity, and credibility.

One of the biggest headaches poor data quality creates is having to fix the errors. If an error is created early within the data collection process, it can easily snowball, taking more time to fix these errors. Additional hours are now being put into accommodating and validating errors rather than utilizing data to create innovative business strategies.

Poor data isn’t sufficient enough to identify key marketing trends making it easier to miss critical opportunities for products or services. This, in turn, can give your competitors an advantage to increase their sales. A study from Experian states that 77% of companies believe that their bottom line is affected by poor data.

Additionally, errors and bad data can easily leave a bad impression on both customers and clients. Inaccuracy lowers credibility, increases risk, and failure of compliance management. For example, consequences of poor data quality in healthcare can lead to poor treatment decisions that can harm the recovery of a patient.

Taking the necessary steps to enhance the quality of data promotes the overall growth of a business.

ARDEM’s Solution for High Accuracy and Quality of Data

Outsourcing is a great way to cut costs, improve quality, and productivity for businesses.

What is the Impact of Poor Data Quality in Business?

“Mistakes are a fact of life. It is the response to the error that counts.” – Nikki Giovanni

In a previous blog post, we talk about how businesses can choose the best data entry company for quality services. ARDEM has built in double key data entry with compare quality checks and multiple validation routines to ensure the highest quality of data. Human error is an inevitability which is why we take our expertise, industry knowledge, and modern technologies to create the best procedure to catch and eliminate errors.

We build customized data solutions based on your outsourcing needs to ensure the shortest turnaround without cutting out accuracy and quality. All of our data is secured with data security addressed at multiple levels along with utilizing VPNs, SSLs, and PGP encryptions.

Our goal is to increase your efficiency in your everyday processes. Which is why we offer a multitude of outsourcing services to ensure that success is delivered!

Contact ARDEM today to find out how we can increase accuracy, quality, and ROI by reducing errors and operating costs!

 

Why ‘Good Enough’ Isn’t Enough for Data Entry

No one, particularly not enterprises dealing with lots of data, wants to make a costly mistake; yet at the same time, human error is a fact of life. With that in mind, what is an “acceptable” error rate for data entry? How many mistakes can your organization withstand before you endanger your bottom line?

No one, particularly not enterprises dealing with lots of data, wants to make a costly mistake; yet at the same time, human error is a fact of life. With that in mind, what is an “acceptable” error rate for data entry? How many mistakes can your organization withstand before you endanger your bottom line?

Why Accurate Survey Data Entry is Important for Public Opinion Research

Paper surveys contain multiple questions as well as a space for open-ended responses allowing residents to provide additional feedback, making survey data entry crucial. Two immediate challenges are created when collecting data from paper surveys: the large volume of data, and, all of the data received being handwritten.

Paper surveys contain multiple questions as well as a space for open-ended responses allowing residents to provide additional feedback, making survey data entry crucial. Two immediate challenges are created when collecting data from paper surveys: the large volume of data, and, all of the data received being handwritten.

Circumvent Challenges to Invoice Processing

In the fast-paced environment of modern business, it can be a challenge for administrative staff to give certain tasks the full due diligence that they deserve. Invoice processing is one of these tasks, and if it becomes disorganized or otherwise falls by the wayside, it creates challenges that will affect all aspects of a company’s operations.

In the fast-paced environment of modern business, it can be a challenge for administrative staff to give certain tasks the full due diligence that they deserve. Invoice processing is one of these tasks, and if it becomes disorganized or otherwise falls by the wayside, it creates challenges that will affect all aspects of a company’s operations.

Outsourcing Government Solutions Provide Peak Performance

As we move into a more digital age, the need for larger amounts of data is increasing. With higher demand and less staff to complete the work, outsourcing government solutions for work such as data entry and imaging becomes the best way to streamline these tasks.

As we move into a more digital age, the need for larger amounts of data is increasing. With higher demand and less staff to complete the work, outsourcing government solutions for work such as data entry and imaging becomes the best way to streamline these tasks.

Utilize Current Data Trends By Outsourcing Data Mining

Creating an in-house team to collect and analyze large sets of data wastes your company resources because data mining is not done on a daily basis. This gives you three options: pull current employees, hire new employees, or partner with an outsourcing team that works based on your needs. Businesses often choose to outsource this task.

Creating an in-house team to collect and analyze large sets of data wastes your company resources because data mining is not done on a daily basis. This gives you three options: pull current employees, hire new employees, or partner with an outsourcing team that works based on your needs. Businesses often choose to outsource this task.

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