5 Reasons Why Data Quality is Important to Your Business

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5 Reasons Why Data Quality is Important to Your Business

At EMI Research Solutions, we know that data quality is vital to gaining accurate insights about your business. High-quality data will enable you to make effective business decisions that help resolve issues and set the stage for growth. Plus, making decisions based on accurate data will ensure you give your customers the best possible experience. Here’s what you need to know about data quality and why it’s important to consider as you build your business.

Better Brand Alignment with Customer Values

Accurate and relevant data can steer you in the right direction when it comes to branding. If you’re unsure whether your brand experience aligns with your customer values, it’s time to look at the data. High-quality data about your target audience will tell you what they want from your brand. According to Small Business Trends, 71% of consumers prefer buying from brands that align with their values!

Essential Social Media Analytics

High-quality data can also show you how your audience members engage with your business on social media. Using this data, you’ll know whether you need to take steps to improve engagement. If your engagement is lacking, you may need to work on your branding. Take advantage of free online tools to create eye-catching social media banners featuring your brand colors, fonts, and imagery. For example, if your business has a YouTube channel, start by selecting a YouTube banner template and customizing it with your own branding. Adding your logo, business name, and company slogan is a great way to showcase your brand to new subscribers!

Advantages Over Your Competitors

Maintaining better quality data than your competitors will give you a competitive advantage in your industry. This is an important aspect of market research, both for new and established businesses. Monitoring, collecting, and analyzing data on your competitors will help you identify gaps in your business strategies and discover key growth opportunities! Good market research software can help you uncover this data. Alternatively, consider working with a reputable research company like EMI Research Solutions to ensure your market research turns up high-quality, actionable data.

Lower Advertising Costs

Without high-quality data, you will be forced to target broad audience groups with your advertising campaigns. This is less than ideal. Broad advertising campaigns that target anyone and everyone are expensive and ineffective. Targeted advertising, on the other hand, will increase the efficacy of each of your ads so you can run shorter, smaller campaigns and keep more money in your business. Good data will let you know whether you’re reaching the audience you want.

Better Conversion Rates

High-quality data regarding what your customers value and how they behave on your website can help you implement key business strategies to improve your conversion rates. For example, Campaign Monitor explains that ecommerce data can help you determine why people are abandoning their carts at checkout so you can offer incentives or follow-up emails to recapture some of those sales. Data can also help you identify opportunities to boost your average order value through upselling and cross-selling.

Improved Customer Relationships

Data can transform the way you manage your customer relationships. Beyond using data to improve your knowledge of customer values and preferences, data can also be used to improve your customer service. For example, you can leverage historic customer service data to personalize the customer service experience at every interaction. Customer data can also be used to fast-track customer complaints and inquiries, so you can resolve support tickets in record time.

When it comes to business, data is the most valuable resource. Data powers the vast majority of businesses worldwide and serves as an integral business strategizing tool for countless companies. Ensuring the quality of your data is essential if you want to make productive decisions that move your business forward!

Do you need to conduct research for your business? Contact EMI Research Solutions to talk to a sample specialist about your project so we can provide research recommendations that fit your needs. Request a consultation on our website today!