The standardisation, deduplication and enrichment of data prevents errors, reduces costs and increases sales.
It is not enough to have an enormous amount of data, it has to be standardised and enriched in order to become efficient information which will permit the attainment of business intelligence objectives, assist in preventing fraud, reducing costs, increasing the efficiency of direct marketing actions and subsequently increase sales.
All these aspects were analysed during the Conference “Multiply the efficiency of your data”, organised by AIS, creator of the Habits® Big Data indicators and DEYDE, the company specialised in data quality and creator of the MyDataQ® software, which was held on Wednesday, 28 October at the Hotel Silken Puerta América in Madrid.
The Conference was opened with speeches from Agustí Amorós, the Sales Director of AIS España and Portugal and by Jaime Roig, the Sales Director of DEYDE Calidad de Datos, introducing four speakers of the highest calibre: Sebastián Girón, Head of the Customer Intelligence department at GENERALI Seguros; Rafael Fernández, Managing Director of PROVIMAD; Roberto Sandoval, Key Account Manager, VALASSIS Communications and Marçal Farreras, Managing Director of URBAN SCIENCE.
“Databases are the heart of the information; they are the functional tool for designing efficient business strategies. However, occasionally during their creation details are overlooked, initially miniscule, but in the long-term these may result in fatal errors. Duplicate records, incomplete addresses or incorrect telephone numbers may hinder the principal objective for which these databases were created, resulting in huge financial losses and damage to the image of these companies”, commented Jaime Roig, Sales Director of DEYDE Calidad de Datos.
“Therefore”, added Roig, “it is necessary to make use of a data quality system that guarantees that the data will be precise; without misspellings, typos, abbreviations or duplicates, and that any new data will be entered correctly.”
“A Quality Database permits the attainment of business intelligence objectives, contributes to improving the company image, favours costs savings, contributes to preventing fraud, increases the efficiency of the direct marketing actions and aids in creating customer loyalty and acquiring new customers. This translates into opportunities to increase the value of our business”, affirmed the Sales Director of DEYDE.
In all Data Quality processes, a very big step is the enrichment of the data, which AIS carries out using the Habits Big Data indicators. Enrichment consists of adding information of value to the records of this database, which multiplies the real knowledge of the customer and how to get closer to him/her. Simply knowing the address of the person can indicate their most likely level of average income, the purchase or rental price of their home, the type of family that predominates in the area of residence and to which one he most probably belongs, etc. “This information”, explains Agustí Amorós, Sales Director of AIS for Spain, “allows you to better know the customer: the socio-economic characteristics, their spending habits or profiles, etc, and the sales value they have for the company”.
According to Amorós, having this knowledge allows you to segment the portfolio of customers, to be able to build models, for example, for cross selling, as well as to set sales targets by zone, decide on the optimum location for a business, the expansion or reduction of sales networks, manage marketing campaigns for capturing new customers and creating customer loyalty, preventing customer abandonment, etc.
The advantages of enriching the information are key insofar as they offer a precise knowledge of each potential customer and the possibility of building models to interact with them. “It is all about selling more and spending less”, points out Amorós. A database with standardised and enriched data multiplies efficiency, in other words, it is possible to carry out better directed actions, even personalised ones, which will play a greater role as the capacity to increase sales grows”.
AIS and DEYDE, leaders in segmentation and geo-marketing and in data quality, respectively, began their strategic partnership in 2006 and since then have participated in a multitude of joint projects due to the complementary nature of the DEYDE MyDataQ solution and the AIS HABITS BIG DATA typologies and indicators.
What is MyDataQ?
MyDataQ is a Data Quality system comprising a set of products aimed at improving the quality of an organisation’ databases by standardising and correcting names and postal addresses, thereby obtaining a single customer view through the detection of duplicate data. It geographically enriches postal addresses and standardises and validates contact methods such as telephone numbers and email addresses.
MyDataQ is a single solution for everyone, and is characterised for its high integration, scalability and simplicity. The results obtained are immediate and reliable, with no need for long parameterisation processes or the incorporation of laborious tables of specific knowledge.
What is Habits® Big Data?
Habits® Big Data is a set of economic and social demographic indicators that provide detailed information on Spanish families and their way of life, which makes it a key tool when defining marketing and geomarketing strategies.
In addition, Habits Big Data provides a segmentation of Spanish families into typologies based on their social demographic and economic traits. It provides knowledge of the presence and spending profile (consumption) of each type of home in each microzone, whether this is a census tract or section of a street. In other words, Habits Big Data not only defines the types of family, but also places them geographically in such way that it is possible to know the density of each typology in any given zone.
Habits Big Data provides a large amount of family related economic data such as income, spending and property value. It is built upon public databases such as the Census, the Electoral Roll and the Household Budget Continuous Survey, thus strictly complying with the Law on the Protection of Personal Data.
About the AIS Group
AIS Group is a strategic, finance and technology consulting firm that operates internationally. It specialises in support systems for decision making based on statistical modelling (forecasting) and mathematics (optimisation). One of its main business lines is quantitative marketing, including the calculation and analysis of economic and social demographic indicators. With its headquarters in Barcelona and offices in Buenos Aires, Mexico, D.F., Santiago de Chile and Lisbon, it operates in more than 20 countries around the world. Some of its main customers include: BBVA, Ono, Cajamar, Banca March, Generali and Finconsum.