Contact data quality in retail banks and reducing data wastage

Overview

This information technology report analyses a recent Experian QAS survey revealing that nearly two out of three retail banks find that between five and thirty percent of their marketing budget is wasted annually as a result of bad data.

Furthermore the survey shows that retail banks are currently focusing on contact data management as a priority. This is reflected in the fact that ninety percent of banks said that they plan to invest or should consider investing in data quality initiatives over the next twelve months.

With so much bad data contained in retail bank databases, a five step cleansing strategy gives a useful insight into technology best practice to help clean and maintain a database. Read the paper to find out more.