Poor data costs a business 20-35% of operating revenue

Poor data costs a business 20-35% of operating revenue
FeedStock

FeedStock
24/07/2018

On an average day, a salesman or business development professional will generate around 4000 data points in the way they interact with colleagues and clients. This data – when accurate and complete – can provide the insights needed to deliver a truly bespoke service and make intelligence-led decisions.  In short, this data can be the tool for success.  And so why is it that, when questioned by Deloitte, 75% of senior executives from 500 responding companies said they were wasting more than half the data they already hold? Is this one of the greatest missed opportunities in modern business?

For providers of investment research, knowing who is valuing your content most, how people are engaging with it and which distribution channel is proving the most effectiveness is invaluable  But with 4000 potentially-relevant interactions, generating this data is extremely time consuming and prone to inaccuracies; audits have shown that up to a shocking 60% of data held in CRM systems can be inaccurate or missing.  Moreover, the data captured is only a fraction of the whole picture.  Never will a CRM effectively log the high-frequency, high-value interactions over email or chat. Neither will the system automatically distinguish between generic and bespoke research or categorise inbound enquiries vs. other engagements. Incorrect, incomplete or partial datasets distort the overall picture of your outreach.

What is the cost of this to you? Poor data can cost a business between 20 and 35% of their operating revenue and so, when the technology exists to resolve this, why take the risk? Over time, FeedStock’s machine learning algorithms will generate the richest dataset from which the greatest actionable insights can be distilled.

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