Bad data, such as duplicate business contacts or junk records, is bad news. In fact, the business cost of bad data may be as high as 10 to 25% of an organization’s revenue, according to a recent infographic from Lemonly and Software AG titled The True Cost of Bad Data. Moreover, the average company throws away an upward of $180,000 per year on direct mail that doesn’t reach the intended recipient due to incorrect data.
Dirty data can have a significant impact on sales and marketing initiatives, as well as other back-office functions such as budgeting, manufacturing, and distribution. For example, sales and marketing agents can waste a substantial amount of time and resources communicating with inactive, or “junk,” business contacts.
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Edited by Brooke Neuman