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4 Steps to Data Management

April 3, 2014 By Derek Slayton
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Data used to be the worry of IT. Period. However, the last few years has ushered in a changing of the guard. Or, perhaps more accurately, it's brought in more new players from areas like finance, research and development, and sales and marketing. Everyone seems to want a piece of the data pie. In fact, by our count, more than 38 million non-tech professionals are now playing a role in managing corporate data (See the infographic at right).

Data has gone from something no one wants to think about to something everyone wants to derive more value from.

So who has data on the brain? Outside of the functional areas mentioned, topping the list of data-driven industries are nonprofits, healthcare, training/education, insurance and finance. 

This perfect storm of more data and more guards has put marketing data management front and center for organizations. Marketing teams, in particular, are being pushed to put this data to work to help reach the right people in the right companies. With tens of millions of people changing jobs each year and 88 percent of prospects admitting to lying on registration forms, it's not shocking to find that 60 perfect of companies are using unreliable data to fuel their demand generation (See the second infographic at right).

Here are a few quick tips for bringing best-in-class data management into your organization:

  • Assess your data to understand your existing data profiles
  • Continually cleanse your database to make sure that it contains relevant and current information (i.e., remove old contacts that have switched departments or companies)
  • Overlay critical segmentation details
  • Enrich your database by filling in the gaps in your contact information

By adopting a more regimented approach to data hygiene, companies will see data delivering more value at all levels of the organization.  

Derek Slayton is CMO of Waltham, Mass.-based B-to-B marketing data services and data management provider NetProspex. Reach him at Dslayton@netprospex.com.
 

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