Study: Businesses hindered by lack of reliable and consolidated data sources

New York -- Poor data collection and linkage practices are leaving organizations unable to move forward with key business goals, according to a new study by Experian Data Quality, a part of Experian Marketing Services.

The report, “Finding insight through data collection and linkage,” finds that while most organizations are looking to leverage data better to drive consumer insight, they are hindered by a lack of reliable and consolidated data sources.

“While most organizations have started Big Data programs and are investing in analytics, the majority of companies still struggle to collect accurate data and link customer information across channels to develop reliable data sources,” said Thomas Schutz, senior VP and general manager for Experian Data Quality.

Experian Data Quality also found that:

• Eighty-three percent of companies have started a Big Data program.

• Ninety-four percent of companies believe their customer and prospect data might be inaccurate in some way.

• Eighty-three percent of companies struggle to link customer information across channels.

“The data-driven culture in which we operate today does not function without a foundation of data quality,” added Schutz. “Organizations need to review data collection and linkage practices to take advantage of their data sources better for insight.”

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