Enhancing Business Success with Data Quality Solutions: Insights from Proximo 3 & data8 Webinar
In today’s digital age, data has become the lifeblood of businesses. It serves as a valuable asset that fuels growth, drives decision-making, and strengthens customer relationships. However, ensuring the quality and reliability of data is no easy task. In a recent Proximo 3 webinar featuring Simon Wise from data8, the significance of data quality and its impact on businesses was discussed. This blog post delves into the key takeaways from the webinar and highlights the importance of data quality in today’s competitive landscape. A recording of the webinar is shown below:
Iain Conolly, one of the directors at Proximo 3, emphasized the growing importance of data quality in the business world. Drawing a parallel to data being the “new oil,” he highlighted how a company’s customer database is one of its most valuable assets. Without accurate and up-to-date data, businesses cannot thrive. Additionally, compliance with regulations such as GDPR and the UK’s Telephone Preference Service (TPS) further highlight the significance of data quality in maintaining customer trust and adhering to legal requirements.
data8, an established data management company, joined the webinar to shed light on the challenges and solutions related to data quality. With 18 years of experience in data cleansing and management, data8 has become a trusted partner for businesses seeking to improve their data quality. The company’s suite of products and tools, including e-mail validation, phone number validation, and address lookup, offer comprehensive solutions for enriching and validating data within Dynamics 365 apps and the Microsoft Power Platform.
The webinar participants concurred on the criticality of data quality for businesses. Poor data quality can have significant financial implications, costing UK companies an average of over £10.5 million annually, according to Gartner. Research from the suggests that businesses waste around 14% of their annual revenue due to bad data quality. Furthermore, data quality issues lead to technical debt, causing existing problems to worsen over time. Establishing reliable data governance processes and management strategies is crucial to prevent the accumulation of data issues.
During the webinar, the question arose regarding the ideal time for businesses to engage with a data quality company like data8. The answer was clear: as soon as possible. Whether during data migration processes or when adopting new platforms like Dynamics 365, it is essential to prioritise data quality from the outset. By ensuring that data is accurate and reliable, businesses can avoid costly repercussions and make informed decisions based on trustworthy information.
Simon Wise from data8 delved into the various data quality solutions offered by the company. These solutions encompass data validation, data cleansing, and business insights. data8’s Power Automate connectors enable seamless integration of their validation services, allowing businesses to validate data at various touchpoints, such as online forms and mobile devices. Moreover, data8’s solutions are readily available on app store, providing credibility and assurance of their quality.
One specific aspect highlighted in the webinar was the significance of email and phone validation. While rule-based validation offers a basic level of verification, data8 goes further by ensuring individual mailbox-level validation for emails and utilising telecom networks for phone validation. data8’s solutions provide accurate and reliable email and phone validation, preventing businesses from wasting resources on ineffective communication channels.
The Proximo 3 webinar featuring data8 shed light on the critical role of data quality in today’s business landscape. Businesses need to recognize the value of their data and proactively invest in data quality solutions to drive success.
If your business could benefit from the implementation of data8’s data quality tools, email us today at sales@proximo3.com