Data Cleansing & Enriching Tool

Data cleaning or data cleansing is the process of improving a database’s quality by ensuring: 

• There are no missing values or missing data
• It is in a consistent format
• It is accurate and up to date
• There are no duplicate records
• It can be used by your sales team

Data enrichment is when deeper insights are gained from raw data. We do this by making additional calculations using historic data and our machine-learning algorithms. This allows us to provide accurate data that predicts things like whether a business will grow or how likely a business is to go insolvent.

Data quality matters for several reasons:

• Make Good Decisions
  Firstly, your sales team needs high-quality data to make good decisions about the companies they target with sales and marketing campaigns to target them with. With quality data, they can accurately see which businesses match their ideal customer profiles.
  
  
• Business Efficiency
  Secondly, data quality can impact the efficiency of the sales team. If your team contacts a company and discovers that the CRM data they have is inaccurate then there are two problems:

• •  It’s harder and takes longer to make a sale
  • They need to manually correct the bad data
  
  Now imagine if this happens several times per day. Your sales team is wasting huge amounts of time and missing out on sales. 
  
  
• Avoid Losing Money
  Poor data quality can also cost you money. Many businesses target companies with robust finances to give them a stable customer base. But what if your data sets are out of date? The companies you target may not be as financially sound as you think, increasing the risk to your business.
  
  
• Comply with Regulations
  Finally, having a well-managed database and excellent data quality ensures you comply with regulations. Two good examples are GDPR and AML rules. 
  
  GDPR rules require that your data warehousing is secure and that the information you hold is accurate and up to date. 
  
  AML rules require you to be able to produce the data set you used to make a decision on a client when a regulator requests it.
  
  A cloud-based platform for business intelligence like Red Flag Alert allows you to do this. 

The data cleaning process has five main stages. First, we use data cleaning tools to audit your data quality. We then compare this to the information in our own database and remove any incorrect or ‘dirty’ data.  

Next, we go through a data deduplication process that removes any repeat entries. We then populate your database with our own clean and enriched data.

At this stage the data cleansing process is complete. All that is left is to add tags to highlight the data sets that your sales team finds most useful.

With Red Flag Alert, the data cleansing process only has to be performed once. After that we automatically keep your data accurate and up to date. This means you don’t need to spend money on costly data cleansing tools.