SHORT HILLS, N.J.--()--D&B (NYSE: DNB), the world’s leading source of commercial information and insight on businesses, hosted an online event for several hundred global customers and media on leveraging Big Data to protect, empower and grow business.
“According to a leading industry analyst firm, poor data quality drains a company an average of $8.2 million annually in squandered resources and expenses for operational inefficiencies, missed sales and unrealized new opportunities”
As part of D&B’s Informed Perspective thought leadership webinar series, Paul Ballew, Global Chief Data and Analytic Officer, provided customers with a streamlined approach to monetizing business data by making it relevant and actionable. The ability to rapidly identify only that information vital to a business is more pressing than ever. Today, there is more data produced every 60 seconds than was created in a year, 25 years ago. Eighty percent of that data is unstructured.
“According to a leading industry analyst firm, poor data quality drains a company an average of $8.2 million annually in squandered resources and expenses for operational inefficiencies, missed sales and unrealized new opportunities,” said Ballew. “Information has increased exponentially with advances in social, mobile, and cloud-based data and so has the opportunity to monetize that information.”
D&B research indicates that companies embracing the journey to Turn Big Data into
Big Insight typically focus on five key areas:
1. Viewing data quality as a business issue, not an IT issue;
2. Establishing an explicit data governance strategy at the point of entry to create and maintain enterprise-wide data quality;
3. Seeing the path to growth as having nothing less than a 360-degree view of any company;
4. Accepting the fact that in today’s data-driven world, sales and marketing success and quality data are inextricably linked; and
5. Understanding that data quality ROI is a short-term leap of faith that delivers very measurable long- term growth and results.
A replay of the Turn Big Data into Big Insight webinar discussion is available at http://www.dnb.com/lc/sales-marketing-education/leverage-big-data-for-customer-insights.html#. D&B’s Informed Perspective thought leadership series strives to inform and educate decision makers about the most pressing opportunities and issues facing organizations in areas related to commercial business information and insights.
About Dun & Bradstreet® (D&B)
Dun & Bradstreet (NYSE:DNB) is the world's leading source of commercial information and insight on businesses, enabling companies to Decide with Confidence® for 171 years. D&B's global commercial database contains more than 220 million business records. The database is enhanced by D&B's proprietary DUNSRight® Quality Process, which provides our customers with quality business information. This quality information is the foundation of our global solutions that customers rely on to make critical business decisions.
D&B provides solution sets that meet a diverse set of customer needs globally. Customers use D&B Risk Management Solutions™ to mitigate credit and supplier risk, increase cash flow and drive increased profitability; D&B Sales & Marketing Solutions™ to increase revenue from new and existing customers; and D&B Internet Solutions™ to convert prospects into clients faster by enabling business professionals to research companies, executives and industries, over the web.
For more information, please visit www.dnb.com.