Data Quality Services
Improve data quality and discover greater efficiency and customer insight using the Market Location Database of Businesses.
Why is good quality data important?
The information that a business holds on its customers and prospects is one of its most precious assets. However, business related information (such as contact details, location and financial indicators) is estimated to change at a rate of around 30% every year. That’s hundreds of thousands of pieces of information that go out of date every day.
This means that without due care and attention, the value of this data can reduce significantly over time, and even become a burden rather than an asset. An even more important reason to have good quality data is the GDPR!
The General Data Protection Regulation (GDPR)
Every organisation that holds personal data will be affected by GDPR – that includes personnel records, customer details, sales and marketing prospect information, online identifier data etc. Organisations will be accountable to the data protection supervisory authorities (in the UK this is the ICO - Information Commissioner’s Office). Whilst the accountability is not a new requirement, GDPR requires all organisations to record and document compliance with all applicable aspects of GDPR. GDPR gives individuals more rights in respect of their data, including more control and visibility of how their personal data is being used, and the right to have that information removed or moved if requested.
With our dedicated team of data experts Market Location are fully compliant with the requirements as set out in the General Data Protection Regulation (“GDPR”).
Why does data quality degrade?
In addition to the issue of ever declining data quality, there is also the problem that customer data is probably held across a variety of different systems, being input by a variety of personnel. This often results in data that is incomplete, inaccurate or duplicated. Why does this happen? Different areas of a business have different priorities - the information that is important for Finance is different from what’s important to Sales. The result is a database that very quickly becomes unwieldy, difficult to manage and hard to benefit from. At Market Location we are dedicated to the process of updating, maintaining and growing our UK business database which can be leveraged to reduce these complex data quality issues. Market Location are fully compliant with the requirements of GDPR.
How do we grow and maintain our business database?
We have an in-house call centre of over 60 people who make 10,000 connected outbound calls every day. The objectives are clear – confirming, correcting and expanding the business details that are held on the Market Location UK Business Database. Ensuring that accuracy is at the heart of the information we hold.
As the foundation of our entire business is based on the quality and depth of our business information, we invest significantly in this operation year on year.