Enterprises and organizations continue to be inundated with data. In a recent report from IDC estimates are that the world will create 180 zettabytes of data in 2025, up from less than 10 zettabytes in 2015. With that much data being created, IDC analysts argue that data monetization will become a major source of revenue for organizations in the future.
With the continued acceleration in the amount of data being managed in enterprises today, we partnered with TechValidate to launch a survey to better understand how customers are using Quadient customer data management solutions, and the impact those solutions are having on their data management practices.
Improved contact data
Customers indicated their primary requirements were the validation and improvement of contact data, along with the improvement of identity resolution and duplicate detection.
Customers indicated that the top benefit they received from implementing an API based data quality solution, was a marked increase in operational efficiency. Other perceived benefits included enhancing the customer experience and reducing risk (while meeting compliance regulations). A remarkable outcome was that cost reduction turned out to be not as important a metric for most respondents.
In terms of benefits, customers are reporting a strong overall reduction in data processing time.
Secondary benefits include customer satisfaction and an increase in customer retention rates.
European privacy regulations (GDPR)
Looking forward, customers are concerned with meeting the new European privacy regulations (GDPR) and implementing a single view of the customers. While these operational requirements are important, organizations are also interested in further enriching their databases with additional information.
Overall, 67% of customers indicated that they saw a payback period of implementing an enterprise data quality solution of 12-18 months.
Thanks to our customers
Thank you to all of our customers who provided input into the survey. If you’d like to contribute based on your experience with Quadient DataHub, please visit the survey link here:
https://www.techvalidate.com/registration/6fd8dfe0fc
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