In the modern digital world, it is increasingly important to have a secure and reliable method of verifying a customer identity. Implementing a Single Customer View (SCV) for customer identity verification is a great way to ensure that businesses are well-protected from fraudsters. SCV’s provide businesses with a unified view of their customer data across multiple channels and systems, allowing businesses to accurately verify their identities before any online transactions can be completed. In this article we will explore the implementation of single customer views for identity verification purposes.
Implementing a SCV for Customer Identity Verification
Implementing Single Customer View (SCV) tools for customer identity verification is becoming increasingly important in today’s digital landscape. With the proliferation of online services and e-commerce platforms, it has become easier than ever before for fraudsters to impersonate customers and carry out fraudulent activities. This is where SCV comes in – it provides a comprehensive view of customer data across multiple touchpoints.
SCV can be used in conjunction with other identity verification measures such as Customer Due Diligence (CDD), Know Your Customer (KYC) platforms, and Anti-Money Laundering (AML) checks to create a robust system for verifying customer identities. By combining these tools, businesses can not only verify the identities of their customers but also detect and prevent fraudulent activities.
Tools for Implementing A SCV
Customer identity verification has become a crucial aspect of online businesses. With the increasing number of frauds and scams, implementing an SCV or a Single Customer View system can help organisations verify their customers’ identities more efficiently. However, implementing an SCV requires certain tools and platforms that can help you centralise data from disparate sources.
One such tool is a Customer Data Platform (CDP), which integrates with various platforms and services to provide complete customer data in one place. A CDP simplifies integrating multiple data sources into the SCV by collecting data from various touchpoints and unifying it into one record for each customer. Other tools like API Integration Platforms enable seamless integration between your CRM systems and other third-party applications to further streamline the process.
How to Resolve Customer Identities with a CDP
A SCV is a powerful tool that helps resolve customer identities with a Customer Data Platform (CDP). CDPs enable businesses to unify all customer data in one place, including demographic information, court listing history, social media interactions, and more. By leveraging this data within an SCV system, businesses can gain a comprehensive view of each customer’s behaviour and preferences.
However, implementing SCV for customer identity verification requires careful planning and execution. The first step is to ensure that there is a clear understanding of the business requirements and goals for the system. The right system will also have a solid foundation in data governance and security, and industry standards.
Automated identity verification software
Automated identity verification software is becoming an essential tool for businesses to verify their customers’ identities quickly and accurately. With the rise of digital transactions, it has become more challenging to ensure that clients are who they claim to be. The implementation of SCV, has emerged as a reliable solution for companies looking to enhance their security measures.
SCV uses automated software designed to detect fraudulent activities during the onboarding process by inspecting government-issued identification documents and other forms of personal information.
This helps businesses prevent identity theft and other types of fraudulent activities while ensuring compliance with regulations such as Anti-Money Laundering (AML) requirements.
By investing in this technology, companies can reduce operational costs associated with manual customer identity verification processes while enhancing their brand’s reputation.
Implementing SCV can be done through various channels, including mobile applications or web-based platforms. To learn more about how SCV solutions can help your business, contact us today.
KYC platforms
The need for secure customer identification has never been greater, especially with the rise of online banking and e-commerce. KYC platforms have become the go-to solution for companies to verify customers’ identities. However, these platforms are not foolproof and can still be vulnerable to fraudsters. One solution that is gaining popularity in recent years is implementing a secure customer verification (SCV) process.
SCV involves implementing additional layers of security measures to ensure that customers are who they claim to be. This process can include verifying their PII, biometric authentication, document scanning, and even facial recognition technology. By adding these extra steps in the verification process, companies can significantly reduce their risk of identity theft and fraudulent activity.
Implementing SCV may require some investment on the company’s part but it will ultimately pay off in increased trust from customers and a decrease in fraudulent activity.
Understanding a SCV
The single customer view (SCV) enables financial institutions to improve their operational efficiency, reduce inaccuracies in customer data. However, data decay and duplication present significant challenges to obtaining and maintaining a SCV. To overcome these challenges, financial institutions should utilise data cleaning technology and tools such as address autocomplete or lookup, advanced fuzzy matching, and semantic technology. SaaS platforms for data cleaning such as Insiight are available to provide real-time cleansing, standardization, validation, and enrichment of contact information. Ultimately, obtaining a SCV can help financial institutions gain a competitive advantage, reduce operational costs, and mitigate the risk of fraud.
Components of SCV
To achieve an SCV, businesses need to integrate data from various sources to create a holistic view of their customers.
The components of an SCV consist of several elements that are crucial for creating a complete picture of the customer.
Gathering Customer Data
Gathering customer data not only helps businesses personalize their marketing efforts but also plays a crucial role in preventing fraud and reducing the risks of cyber attacks. By having a complete and accurate view of each customer, businesses can better detect and prevent fraudulent activities, such as identity theft, account takeover, and payment fraud. They can also identify potential security threats and vulnerabilities in their systems and take proactive measures to address them. However, to achieve these benefits, businesses must ensure that their SCV implementation follows strict security protocols and complies with industry standards, such as the Payment Card Industry Data Security Standard (PCI DSS) and ISO 27001.
They must also invest in security technologies, such as firewalls, intrusion detection systems, and encryption, to protect their data from cyber threats.
In addition, businesses must educate their employees and customers about the importance of cybersecurity and the risks of fraud and provide them with the necessary tools and resources to protect themselves. By prioritizing security in their SCV strategy, businesses can not only improve their customer experience but also safeguard their reputation and financial stability.
Selecting Customer Data
Selecting customer data is a crucial component for ensuring accuracy and completeness of the SCV. Customer data can come from a variety of sources, such as transactional data, demographic data, and behavioral data. It is important to select data that is relevant to the business goals of the SCV and ensure that the data is accurate and up-to-date. This can involve performing data cleansing and matching to eliminate duplicates and inconsistencies.
Additionally, data privacy regulations and ethical considerations should be taken into account when selecting and handling customer data. By carefully selecting customer data for the SCV, businesses can gain a more comprehensive understanding of their customers and improve their overall customer experience.
Cleaning Customer Data
One of the key components of implementing a single customer view is cleaning customer data. Customer data can often be scattered across different departments, databases, and channels, leading to duplicates, inconsistencies, and inaccuracies. Cleaning customer data involves identifying and removing or merging duplicate records, standardizing formats, and updating outdated or incorrect information.
This process helps to ensure that customer data is accurate, complete, and up-to-date, which in turn improves the effectiveness of marketing campaigns, customer service, and overall business operations. By implementing automated tools and processes for cleaning customer data, organisations can save time, reduce errors, and improve the quality of their customer data, ultimately leading to better customer experiences and business outcomes.
Structuring Customer Data
One of the key components of a Single Customer View is structuring customer data, which involves organizing and formatting customer information in a consistent and standardized way. Structuring customer data is crucial for efficient and accurate data management, as it enables the identification of unique customers across multiple channels and touchpoints. This process typically involves mapping out data fields, creating a master customer record, and cleansing and validating customer information.
Effective structuring of customer data ensures that businesses have a comprehensive view of their customers, enabling them to make data-driven decisions, improve customer experience, and increase customer loyalty. Therefore, it is important for businesses to invest in robust data management and governance practices to achieve a reliable Single Customer View.
Verifying Customer Data
Verifying customer data is a crucial component of implementing a single customer view, as it ensures that the data collected about a customer is accurate and up-to-date. This involves the process of cross-checking the information gathered from various sources, such as transactional data, customer interactions, and third-party data, to ensure that it is consistent and reliable.
By validating the accuracy of customer data, organisations can avoid the risks associated with incomplete or incorrect information, such as inaccurate marketing campaigns, ineffective customer service, fraud and regulatory compliance issues.
To achieve an accurate and comprehensive single customer view, it is essential to implement effective data verification processes that enable continuous data cleansing and updating, to ensure that the data remains accurate and relevant over time.
Implementing SCV in Businesses
Implementing SCV (Single Customer View) in businesses has become a crucial aspect of customer data management. The process involves combining multiple sources of customer data to create a single, accurate and complete profile for each customer. This is done by collating all available information about the customer from different databases.
When implementing SCV in businesses, it is important to ensure that the right technology and processes are in place. The first step is to identify all sources of customer data that need to be integrated into the SCV system. These could include transactional data, demographic information, social media behaviour and other relevant metrics. Once identified, the next step is to develop a strategy for integrating this data into a centralised platform.
Benefits of Creating a SCV
Businesses can gain numerous benefits from creating SCVs, such as identity verification, fraud prevention, and compliance with data regulations. An SCV enables businesses to verify who their customers are by combining information from different sources like social media accounts, email addresses, and phone numbers. This makes it easier for organisations to identify customers accurately and prevent fraud.
In addition to security measures, creating an SCV can also result in cost savings for businesses. By consolidating customer data into one database, companies save time and resources spent on managing multiple databases with redundant or conflicting information. With fewer duplicate records and less manual work involved in updating customer details across various platforms, companies can improve operational efficiency and achieve significant cost savings.
SCV for Identity Verification
Single customer views (SCV) are becoming increasingly important in the world of identity verification. An SCV is a way to create a complete and accurate picture of an individual’s identity by consolidating data from all sources into one central location. This can include information such as name, address, email, phone number, date of birth and more.
Security and Fraud Prevention
Creating a single customer view (SCV) is an essential step for businesses that want to improve their security and prevent fraud. An SCV allows companies to consolidate all customer data into one location, so they can easily identify patterns of behaviour and anomalies. This helps reduce the risk of fraudulent activity since suspicious transactions or behaviours can be detected quickly.
Additionally, an SCV provides a secure storage location for sensitive customer information. By having all customer data in one place, organisations can more effectively manage access permissions and reduce the risk of unauthorized access. This is especially critical given the increasing number of data breaches occurring across industries.
Moreover, creating an SCV enables businesses to implement robust authentication measures such as multi-factor authentication (MFA). MFA provides an extra layer of protection against unauthorized logins by requiring customers to provide additional verification beyond a password.
Compliance with AML Regulations
Creating a single customer view can be incredibly beneficial for businesses, particularly when it comes to compliance with AML (Anti-Money Laundering) regulations. By creating a complete profile of each customer, businesses can more easily identify suspicious activity and monitor transactions that may seem out of place. This not only helps businesses stay in compliance with AML regulations but also protects them from potential financial losses.
Data Security Considerations
As businesses continue to collect and use customer data, data security has become a crucial consideration. One of the most important aspects of data security is creating and maintaining a single customer view (SCV) that integrates all available customer data into one centralized location. While SCVs can be incredibly valuable tools for businesses, they also come with unique data security considerations.
One of the primary considerations for SCV data security is ensuring that customer data is kept safe from unauthorized access. This means implementing strong authentication measures, such as two-factor authentication or biometric verification, to ensure that only authorized personnel have access to sensitive information. Additionally, it’s important to monitor who has access to this information and limit permissions accordingly.
Another key consideration when it comes to SCV data security is protecting against potential breaches or cyber-attacks.
Identifying Fraud Using SCV
Identifying fraud has become a top priority for most businesses in recent times. With the rise of digital transactions and the increasing amount of data breaches, it has become essential to have a robust system in place that can identify fraudulent activities quickly. One such system that is gaining popularity among businesses is using a single customer view to identify fraud.
By having this consolidated view of a customer’s data and activity, businesses can easily identify any customer data discrepancies or suspicious activity that may indicate fraudulent behaviour.
Using a single customer view to identify fraud provides several benefits for businesses.
First, it allows them to detect fraudulent activities faster than traditional methods since they have access to complete customer information in one place.
Second, it helps businesses create a more positive experience for customers by eliminating the need to have them repeat information from one department to another.
Finally, businesses can reduce the amount of time spent on resolving customer-related issues by having a single view of customer activity.
Conclusion
In conclusion, implementing a SCV for customer identity verification can be beneficial to businesses. By using this technology, businesses can gain greater insight into customer identity and onboard new customers quickly and securely. Furthermore, SCV provides an extra layer of security which prevents potential fraud or data theft. This technology also helps ensure that customer data is kept safe and secure.
We all know that data is important. We use it to make decisions every day, both big and small. But what happens when that data is dirty? When it’s not accurate, up-to-date, or complete?
Just like any other tool, data needs to be maintained in order to be useful. And that means keeping it clean. In this article, we will explore why having clean data is important.
Why data washing is important
In the world of big data, data cleansing is more important than ever. Global data’s data washing services can help you keep your data clean and accurate. Here are three reasons why data cleansing is so important:
1. Data quality is essential for decision-making.
When it comes to making decisions, data quality is essential. Poor data can lead to bad decision-making, which can have disastrous consequences. To avoid this, businesses need to ensure that their data is clean and accurate. Data washing is a process that can be used to improve the quality of data. This involves identifying and correcting errors in the data. By ensuring that data is of high quality, businesses can make better decisions that lead to better outcomes.
2. Data washing can improve the efficiency of your organization.
If your organization deals with a lot of data, you know how important it is to keep it clean and organized. Data washing can improve the efficiency of your organization by ensuring that your data is accurate and up-to-date. By regularly cleaning your data, you can avoid duplicates and errors, and make sure that your employees are working with the most accurate information possible. Data washing can be time-consuming, but the benefits are clear: an efficient organisation with accurate data.
3. Data washing can help you comply with regulations.
The Australian Communications and Media Authority (ACMA) requires all organisations that make telemarketing calls to have up-to-date records of customers who have opted out of receiving such calls – known as the do not call register.
Organisations that make telemarketing calls are required to ‘data wash’ their records against the do not call register at least every 30 days. This process involves comparing the organisation’s customer records against the do not call register to identify any customers who have registered their number on the do not call register.
If an organisation does not data wash its records, it may be in breach of ACMA’s requirements and may be subject to penalties. Data washing is a simple process that can help organisations comply with ACMA’s requirements and avoid potential penalties.
The benefits of data washing
There are many benefits of data washing or having clean data. First, it helps to ensure the accuracy and completeness of the data. Second, it can help improve the quality of decision-making by providing complete and accurate information. Third, data washing can help reduce costs by avoiding duplication of effort and wasted resources. Finally, data washing can help build trust between organizations and their customers or clients by providing accurate information.
The challenges of data cleansing
In any kind of data analysis, data washing is one of the most important but difficult steps. Data cleansing, also known as “data washing,” is the process of identifying and correcting inaccuracies and inconsistencies in data. This can be a time-consuming and tedious task, especially if the data set is large.
There are several challenges that can make data cleansing more difficult. First, different sources of data may use different formats or standards, which can make it difficult to reconcile the data. Second, some errors may be subtle and hard to spot. Finally, human error can introduce new inaccuracies when data is manually entered into a system.
Despite these challenges, data cleansing is essential for producing accurate results. By taking the time to cleanse your data set, you can ensure that your analysis is based on accurate and reliable information.
How to get started with data washing
There are many ways to cleanse data, but the most effective way is to use a data washing service. These services are designed to reduce human error and provide high-quality results.
When it comes to data, quality is key. Global Data has the best data washing services available to increase data accuracy, compliance, and business efficiency. If you’re interested in using our data washing service, request a demonstration or call us today. We’ll be happy to answer any questions you have and help you get started.
Conclusion
In conclusion, it is evident that data washing is an important process that should not be overlooked. By taking the time to cleanse your data, you can ensure that your conclusions are accurate, and your decisions are based on sound information. Additionally, data washing can help improve the efficiency of your operations and avoid potential problems down the line.
Are you looking for ways to improve your marketing strategy? Do you want to take advantage of the power of data-driven insights? If so, then this blog post is for you! We’ll show you how to use data to supercharge your marketing efforts and get the most out of every campaign.
Understanding the Power of Data-Driven Marketing
Data-driven marketing is an effective way to better understand customer needs and preferences. By leveraging data to gain insights, you can tailor your marketing strategies to target specific audiences and create more effective campaigns.
Data-driven marketing can help you understand customer behaviour, identify trends, anticipate customer needs, and develop more effective messages. Additionally, it can help you identify target markets, adjust your campaigns according to customer feedback, and generate higher ROI from your campaigns.
The data available today provides invaluable insights that can help you create better messaging that resonates with potential customers, expand your reach, and increase conversions.
Gathering Data to Identify Opportunities
Data analysis is key to understanding consumers and what drives them. By collecting data from multiple sources, such as Quester, surveys, focus groups, market research, and analytics, businesses can identify opportunities and develop more effective marketing strategies.
For example, by gathering data about customers’ interests, needs, and preferences, businesses can create targeted campaigns to address those needs. Using predictive analytics, businesses can also identify potential target markets and analyse the effectiveness of their campaigns.
This data helps companies refine their marketing plans to gain a competitive edge. With the right data-driven insights, businesses can create more effective campaigns and identify new opportunities for growth.
Understand the Types of Data Available
Data is the lifeblood of any successful marketing strategy. It provides insights into how customers interact with your brand, what their preferences are, and what kind of messages will be effective. By understanding the types of data available, you can develop a comprehensive strategy that meets customer needs, identifies target markets, and mitigates risk.
There are several types of data that can be used to fuel your marketing strategy. This can include customer demographics, purchase histories, and market research. Demographics are important for understanding who your customers are and where they are located. Purchase histories provide insights into what kind of products or services they have purchased in the past, which can help you tailor your messages accordingly.
Market research is essential for gaining insights into customer opinions and for identifying new opportunities in the marketplace. Additionally, you can use consumer data to understand risk and to evaluate and mitigate it. By leveraging all these different sources of data, you can gain a comprehensive understanding of who your customers are and what they want.
Select the Right Data Sources
When it comes to selecting the right data sources, it’s important to ensure that you’re accessing reliable, authentic data that is up to date. This means researching data sources and understanding what types of data they offer. It could be consumer data, customer feedback, market research, or any other type of relevant data. Once you know what type of data you need, you can begin to identify the best sources for this information.
These can include Quester, surveys, polls, focus groups, and more. Additionally, you should consider leveraging external sources such as the latest industry trends and reports to gain further insights.
By combining both external and internal intent data sources, sales and marketing teams can supercharge their lead generation strategy and gain an edge over the competition.
Using data to pinpoint target markets
Data-driven marketing is a powerful tool that can help you better understand your customers and target markets. By leveraging data, you can identify and segment potential customers, pinpoint their preferences, and create more personalized experiences.
This helps you build stronger relationships with your target markets and maximize the effectiveness of your marketing campaigns. Data-driven marketing can help you meet your goals and objectives by providing the insight needed to make smart decisions.
Leveraging Consumer Data to Understand Risk
When it comes to understanding risk, leveraging consumer data is essential. By collecting data signals from various sources, including driving, purchase history, and behavioural data, you can gain a full 360-degree view of your customers.
This can help you identify upsell and cross-sell opportunities, tailor messages to your prospects based on their interests, and understand their risk profile.
Having this information at your fingertips can help you make informed decisions on which markets you should target, what kind of messaging will resonate with them, and what the potential risks are in any given situation.
With the right data in place, you can make informed decisions that will help take your marketing strategy to the next level.
Exploring the Benefits of Leveraging Consumer Data
The power of data-driven marketing is undeniable, and it’s becoming increasingly important for brands to leverage consumer data to better understand their customers and maximize their marketing efforts. But understanding the benefits of leveraging consumer data can be daunting.
Luckily, there are several key benefits to leveraging consumer data that can help you gain a competitive edge. By leveraging data, you can identify customer needs and target markets with greater accuracy, better understand risk and tailor your messages to the right people.
You can also clean, organize, and manage your data in order to maximize efficiency and gain real-time insights. Ultimately, leveraging consumer data can lead to more informed decisions, more successful campaigns, and increased profitability.
Using Data to Evaluate and Mitigate Risk
Using data to evaluate and mitigate risk is a key component of any marketing strategy. By collecting and analysing data, marketers can accurately assess potential risks and take steps to minimize them.
Additionally, with the right data in hand, marketers can evaluate risk and develop campaigns that maximize ROI while minimizing those potential risks.
Collecting and Analysing Data to Tailor Messages
Once you’ve identified the data sources to use for your marketing strategy, it’s time to start collecting and analysing that data. This is where analytics come in. Analytics helps you understand the behaviour of your target audience and how they interact with your brand. It can also provide insights into customer preferences, trends, and interests so you can tailor your messages accordingly.
With analytics, you can develop a deep understanding of your audience and create more effective campaigns. You can also use analytics to measure the success of each campaign, allowing you to optimize it for maximum impact.
Understand the data you have
Once you have identified the data sources you want to use, it’s time to understand what data you have and how to best utilise it. Collecting and analysing data is time consuming, so it’s important to make sure you are gathering the right information that will help you reach your goals.
Analysing data can give you a wealth of insights into your customers, their needs, and how they interact with your brand. You can use this information to tailor your messages and create campaigns that will resonate with them.
Once you have the data, clean and organize it so that it can be used efficiently. This will help ensure that all your customer interactions are tailored to their individual interests and needs.
Create Targeted Messages Based on Data Insights
The power of data is in its ability to provide insights into customer behaviour. Analysing this data can help you create targeted messages that will have a greater impact on your audience. With the right kind of data, you can get an understanding of how customers think and act so that you can craft messages that are personalized and relevant to them.
By leveraging the power of data, businesses can unlock valuable insights about their target audiences, allowing them to create tailored messaging strategies that speak directly to their customers’ needs and interests.
Businesses use these kinds of messages to increase visibility, grow relationships with customers, and influence purchase decisions. With the right kind of data analysis, businesses can put together powerful campaigns that deliver results for their business goals.
How to Clean, Organize, and Manage Your Data
As important as it is to collect and analyses data, it’s equally important to make sure that the data you have is clean and organized. This is known as data washing. Data washing can help you identify any areas where the data may be incomplete or inaccurate, as well as any areas that need further analysis.
Once you have identified these areas, you can begin to organize your data for maximum efficiency. This could include grouping data into categories, creating a system for classifying data, or creating a searchable database like Caspar and Quester.
Organizing your data will not only help you gain insights from it faster and more accurately, but it will also make it easier to manage your data in real-time.
The importance of Data washing
Data washing is a vital step in data management and is the key to ensuring that your data is clean, accurate, and up to date. It involves verifying, cleaning, and updating records to remove any obsolete or inaccurate information. Data washing can be done in a variety of ways, such as deleting old records or using data profiling to generate scoring models.
By embracing data washing, you can be proactive and ensure that the data that flows into your systems of records are accurate, reliable, and comprehensive. This process helps to improve the quality of your data which can lead to better insights into customer behaviour and better decision making.
Clean customer data also improves almost every aspect of your business, from being able to send targeted marketing emails or ads to tracking and managing non-marketing contacts. Therefore, it is essential to set up a data cleansing process to fix any data issues and keep your database lean and accessible.
Organising Your Data for Maximum Efficiency
Organising your data for maximum efficiency is essential in today’s digital world. To ensure that data is properly organised, it is important to remove any duplicates or irrelevant information.
As mentioned previously, this process is referred to as data washing and can help you make the most of your data and keep it up to date while ensuring its accuracy.
Data washing involves identifying and removing inaccuracies or redundant records. It also involves processing changes that have occurred since the last update such as address updates, name changes. We also recommend conducting an Australian death check on records if needed.
By doing this, you can avoid sending out mailers to deceased persons or incorrectly addressed mailings which could lead to potential legal issues for your business.
Conclusion
In conclusion, using data to inform your marketing strategy can transform your business. It helps you find the right customers, target them with relevant messages and adjust strategies based on results. Data-driven decision making can save you time and money while improving your overall ROI. By keeping an eye on the key performance indicators, you can anticipate
It is often said that “your data is only as good as its source” and whilst in part this is true, certainly there are measures that one must take to ensure that it performs to its finest potential.
First, it is sensible to understand your data composition by completing regular data audits. Looking at key attributes of your data, you will be able to track its performance and measure its success. In the case of Consumer B2C data for example, where or what does your data predominantly target? Males; females; the conservative spender; the elder or the youth? Basically, what audience variable is highly evident within your existing Donor or Customer Database?
As you begin to audit your data, undoubtedly, seeming patterns can emerge that help with future strategies and marketing campaigns. This is incredibly important and useful, as audience variable queries are built off these patterns. We, at Global Data, evaluate our client’s data in this way through our Quester analytical engine and build new queries off this apparent data behavior for many charities or NFP organisations and it has “enormous success.”
Next and significantly, you must cleanse, enhance and append new information where possible. There is nothing worse than using Consumer B2C data that is ‘broken or invalid’ in some way. It can cost companies hundreds of thousands if not millions of dollars per year in things such as direct mail return to senders; employee resources wasted on disconnected or WPC telephone numbers and so on. What’s your data really costing you then? Much more than you initially paid!
Poorly formatted, incomplete and duplicated data is one of the most common problems we identify, when we are Datawashing or providing health and audit checks for our client’s current databases here at Global Data. Once identified, we immediately repair broken data records, remove duplicated or junk data and then append new, fresh contact variables to enable maximum RPC performance on those records. A great deal of the repairing and de-duplication work is done at no cost if we are appending new data anyway.
So, in essence, adopting a couple of new data procedures can save your organisation a ton of money over time, but more importantly, “hygienic data will mean better performing data.” You get to your audience and achieve marketing success.
If you need assistance with Australian Consumer B2C data cleansing, enhancing or appending, certainly contact us on 03 9948 4089 and trial our online Datawashing facility that appends over 50% new information, whilst repairing broken and invalid records.
As I write this article I cannot help but chuckle as a song plays in the background from the movie Reservoir Dogs, (Stuck in the middle with you). Why am I amused? The verse “Clowns to the left of me, jokers to the right….” makes me realise how some corporate executives act towards their clients, thinking they will not discover their façade of trash.
In my travels as CEO of Global Data, I meet many different people, from many different industries and from many different educational backgrounds. Some would like to think that their corporate title, education, how much money they make and size makes them smarter and arrogantly more important than their actual client. This is very dangerous and in many cases, causes the demise and failure of staff and client relationships.
Recently and in my daily routine travels, I was presenting to a particular finance institution about B2C data in general and more so on their poor Datawashing results they were receiving from a credit collection company. Although I wasn’t particularly surprised about the poor results they were receiving, namely because of the collection vendor they were using and in turn, who they were using for data supply, I was astounded at what they told me next.
I asked the question…. “Have you raised these poor results with them?” The response was “Yes we have, but they advised that they were one of the biggest and best in the industry and only they get access to the best quality B2C data in Australia from their data supplier and nobody else could get the data that they can get and that nobody could supply any better data than them……” Obviously more was said that I cannot disclose. I cannot tell you how much I was shocked when he told me that those comments and excuses came from the top of the hierarchy of their vendor, the CEO.
A simple, small test I performed soon opened his eyes to the façade of “dribble” that was bestowed on him, from them and how our data was much better, even from a random, on the spot test (55% new appended info). Gladly, the wheels are now in motion for change for this financial institution.
Why is this important? Why does it bother me? Simply because, when they asked the credit collection vendor why they do not purchase data from Global Data, they told them that it wasn’t because they didn’t know we existed, not because they haven’t trialled us, but simply because they are locked into a data supply contract elsewhere and when they trialled Global on launch of their platform in early 2016, they were comparable to whom they were using at the time. Early 2016? We are in late 2017, not far from 2018 and the financial institution, like Global Data viewed this as a poor excuse to continue to supply outdated, low performing and quite frankly poor data from whom they are using. What a joke!
The client deserves better no matter what. Whether or not it is from Global Data or not, the file they showed me had less than a 10% append rate, high disconnected numbers, virtually nothing of any real use for the client to use. Poor results, but more importantly, a poor attitude from the comic corporate executive will now cost them a major client. I have always said to my sales staff that there is a fine line between being smart and being a smart alic. You should always know what your clients think of your standards and in particular, service. We all make mistakes, we are not impervious to mistakes. It’s how we deal with them that defines us.
Clearly in this case, because they thought they were a large corporate entity and the CEO, knew the previous person he did the deal with, that the relationship was rock solid. How wrong he was. Many may disagree with me when I say a relationship with your client should not be built on friendship, it should be built on trust and achieving the desired result they are seeking. This is my view and how I run Global Data. Making friends is a bonus for me.
The larger suppliers can be viewed as more reliable because they have many resources and systems in place to still deliver if anything goes wrong. However, the downside is that they often forget about the SME clients and in particular, believe that nobody would be able to supply the services as well as they can to their clients. I think the evidence is now suggesting otherwise as many companies will now explore their options, year to year. Arguably, their bureaucratic ways are their biggest enemy in my view.
As CEO of Global Data, I encourage tests, trials and comparatives. Certainly, using a single supplier can have its advantages but it also has many risks. Using multiple vendors / suppliers is the better option as it ensures that each will try and outperform the other to try and gain the entire contract, meaning you get the best quality at all times and insurance against any suppliers dropping off out of the market space.
If you would like to make a time to chat to me personally about this topic or more importantly, to test our vendor capabilities, feel free to drop me an email at tony@globaldata.net.au
Global Data Pty Ltd introduces the Caspar Automatic datawashing facility that will analyse your bulk data files and correct, update and score the records demographically. The datawash system can process a whole book of recently purchased debtors or overdue accounts in order to obtain updated contact details and demographic scoring of each record. This will enable you to reconnect with those debtors quickly and show you which ones should be pursued first. It will validate existing records, repair broken or invalid records, append new contact information and a whole lot more to empower you to get to the person you need to quickly.
- Easy to use Self Service datawashing facility interface on our popular Skiptracing Platform Caspar.
- Easy upload of large batch files and processed in minutes.
- Old data becomes new data literally in minutes.
- Receive an assessment of invalid or broken records for free and analyse the report for self-repairing before committing to any payment. Others charge for this.
- Accurate data. Our data has been tried and proven by large corporations against our competitors with higher RPC’s, more new unique contact details and higher volumes of data comparatives (400+ million records)
- New unique Mobile Phone numbers (Connectivity pinged for connection)
- New unique Landline Phone numbers (Connectivity pinged for connection)
- New addresses not previously known or the person may have moved to
- New Email contact information
- Records flagged with Court actions / Judgement indicators
- Records flagged with Deceased person indicator to avoid sensitive embarrassing contact
- Records flagged with Business ABN indicator to the actual person / consumer
- Multiple contacts if available on the particular record
- Geo-demographic Indicators flagged to all records, scored 1 to 10 for a better socio economic understanding of the person being contacted (Income, Expenditure, Employment & Education)
Avoid costly expenditure of trying to reach customers / debtors with outdated contact details. Understand the person you are pursuing or trying to locate to make an informed decision on whether they are likely to want your product or have the ability to pay the debt.
Australia Post has indicated that postage price per standard letter will continue to increase. The implication of this price increase is that your costs for direct mail will increase significantly, making your campaign ROI more difficult to achieve. Datawashing ensures little postage wastage and successful mail outs.
Prioritize with importance or urgency the High Risk and Low Risk consumers / debtors with our Demographic indexes on income and expenditure and save time by contacting the Right Party Contact (RPC) quickly and accurately.
Rich Data that enables you to understand your audience. Data that connects to the audience with ease. Our enhanced Australian Consumer and Commercial data adds value to your existing, older data that is in need of repair and enhancement. Our data is premium quality and updated weekly from over 100 sources, many unique or exclusive to Global Data.
At Global Data, we are dedicated to providing you with bespoke solutions to improve your data quality and ensuring that it easily integrates with your CRM or any other data software platform you have. Contact us today and find out more.
