Startups- Why Should Minimizing Duplicate Data Be Your Top-Notch Priority?
Small businesses and startups face unique technological problems. Well, the struggle is real for small businesses. It is because they’re establishing roots in the market.
Issues like data duplication have come into sight as they increase organizational inefficiencies. Are you a startup working with a small business team? If yes, then chances are great for you to consider data duplication a timely and idle investment. But is it wise to ignore the problem? Maybe not, as the issue will become severe once it starts affecting your business.
Are you still wondering how it affects your business? Well, stick on to discover how it does:
● Lost Income and Hefty Costs:
The costs associated with duplicate data can be alarming. Duplicate data’s severity increases the money’s involved in the process.
Imagine the wastage involved in sending dozens of duplicate catalogs to the same person. You tend to waste money on postage and print costs, which harm the response rates and ROI.
To avoid wasted costs, businesses need to identify duplicates. Also, they must prevent these from entering into your CRM. Also, try to maintain a healthy database. This will save you money from ever-increasing marketing costs.
● Lacks the View of a Single Customer:
Businesses need to get an accurate picture of their customers and their behavior. But, the process becomes difficult when you have two or more databases of the same customer. For example, you may have a single customer interaction recorded against several records. And, now, when your team will gather data for a customer, they’ll be under a tiff about which data is reliable.
Even from the sales and marketing perspective, things may get a little tricky. Employees will need to find which marketing effort has been successful and which isn’t. What stage of the funnel is the customer in the database?
● Poor Business Processes:
Employees may begin to lose confidence in your iPhoto or CRM. It is because of duplicates and inaccurate data. Thereby, when employees click here on data storage platforms like iPhoto, they might come across duplicate customer photos. Duplicate files further hamper employee productivity and make the segregating process time-consuming.
Does the scenario hold for your business? Your employees may be sharing customer information through iPhoto, shared drives, or emails. Well, if yes, then take time to think again.
With the rapid growth in your business and customer base, the number of records increases by large numbers. Thus, it has the possibility of making your data unmanageable. You may even lose your precious data!
● Inaccurate Reporting and Less Informed Decisions:
Now that you’re a startup, you rely on data for making informed decisions. After all, your data determine the next moves for future growth. Thereby, you need to ensure that the data is accurate, complete, and duplicate-free.
Decisions based on insufficient quality data are not reliable and accurate. It is more based on assumptions. Cluttering your database with lousy quality data impacts your decision-making abilities and decisions.
Duplicate data works well in hurting your customer view. Businesses must ensure apt management of their data. By doing so, they ensure that it’s reliable and not duplicate. Use software for cleaning the data so that you have a single view of all your customers.
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