Data is King

Data will become an increasingly important commodity in the coming years, according to WPP chief executive Sir Martin Sorrell. In an interview with The Telegraph, Sir Martin says that customer insight accounts for about £4.5bn to £5bn of WPP’s revenue.

However if the basic data is not correct all the additional analysis trying to obtain an insight of customer behaviour will be skewed. Getting the basics right will ensure that any insight gathered can be trusted. Modellers are using online data cleansing services to quickly ensure the data they are using for their analysis is accurate.

Data is also King in the land of internet shopping, the goods have to be delivered, the benefits of more accurate address capture are –

Using Postcode Lookup internet retailers can capture an accurate address at the time their customers order or when they register. This has an immediate impact on their bottom line.