Unique Solution Provides Data Trust Score, Details on Business Impact, and Actionable Playbook for Data Quality Improvement
Validity, the most trusted name in customer data quality, unveiled Validity Trust Assessments, a first-of-its-kind solution for evaluating and managing customer data. Validity Trust Assessments is an on-demand software solution that produces real-time reports that show an organization’s Data Trust Score, high-level metrics, comparative industry benchmarks and a detailed remediation plan for improvement. Businesses can use Validity Trust Assessments to quickly and continuously address customer data quality issues, understand the economic impact on their business and have more trust in their Salesforce data.
The economic impact of poor customer data quality is massive. According to Harvard Business Review, only 3 percent of companies’ data meets basic quality standards, and the Data Warehouse Institute estimates that data quality problems cost US businesses more than $600 billion annually. Invalid, incomplete or otherwise inaccurate customer data is detrimental to growth and operational efficiency. While many organizations lack an effective initiative to resolve data quality problems, most businesses simply lack a cost-effective way to deal with ongoing customer data issues.
“Customer data is at the heart of just about every business decision,” said Mark Briggs, CEO of Validity, “but business leaders often wonder if they’re making sound decisions because of known issues with underlying data quality. We built Validity Trust Assessments to reveal the state of your customer data, and to quickly identify the specific steps you can take to improve – and ultimately trust – your customer data.”
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Validity Trust Assessments fills critical and unresolved gaps within the data quality space. Businesses can now see a complete picture of their customer data quality and no longer need to guess where to start or what to prioritize. The solution produces real-time reports that include:
- Data Trust Score – Unique to each business, the Data Trust Score is a key measure of overall data quality based on complete analysis of duplicate, malformed, missing and invalid data records.
- Industry Benchmarks – An evaluation of a company’s data quality in relation to businesses of similar size, industry and revenue.
- Business Function Impact – Aggregate analysis of customer data issues that affect campaign effectiveness, pipeline management, customer retention and strategic business decision
- Remediation Playbook – A comprehensive, customized plan for addressing problem areas discovered in the data quality assessment based on individual results. A step-by-step approach shows where to focus cleanup efforts, how much time is needed for each task and which tools to use to restore quality.
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Validity Trust Assessments is easier to use and far more cost-effective than other solutions in the market. Plus, unlike other solutions, Validity Trust Assessments can be used in real time and requires no cumbersome consulting engagement to onboard and maintain. This flexibility allows users to leverage the solution in meaningful ways to improve their functional business areas. For example:
- Executives can track CRM-related business health, identify data quality needs that will help propel company growth and reduce spend.
- Salesforce administrators can implement and gauge the effectiveness of data quality measures.
- Marketing professionals can improve campaign effectiveness and customer engagement, as well as immediately gauge the impact of list loads or the addition of tradeshow data
- IT professionals can establish data governance procedures that prevent bad data entry at the source.
- Sales operations and leadership can improve sales forecasts, sales pipeline management, lead quality and conversion rates.
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