Understanding Data Degradation: Making Informed Decisions

Like a loaf of bread left out for too long, data can go stale over time. A surprising fact that many overlook is that data degrades at a whopping 10% per year. This means that if your organisation relies heavily on data for its operations, you could potentially be making decisions based on stale or inaccurate data.

The Inevitability of Data Degradation

Data degradation is an inevitable part of the data lifecycle. It occurs as data becomes less accurate, less complete, or less reliable over time due to various reasons such as changes in contact details, preferences, or behavioural changes of the individuals or entities the data represents. This degradation particularly pronounced for consumer data, where changes are frequent.

The Cost of Ignoring Data Degradation

If unchecked, data degradation can lead to misguided decision-making, ineffective marketing campaigns, poor customer experience, and regulatory compliance issues. Operating with degraded data is like navigating through a thick fog, and in the fast-paced world of business, this can result in costly mistakes and missed opportunities.

The Speed of Data Decay

At a 10% degradation rate per year, the impact is far from trivial. Imagine, a third of your data could be obsolete in just three years! And it's not just a problem for your sales and marketing departments either. Data degradation can affect every aspect of your business, from customer service to finance and compliance.

How Datatrac Can Help

At Datatrac, we don't offer you a one-size-fits-all 'solution'. Instead, we provide you with the most relevant, up-to-date, and comprehensive data possible. Our Data as a Service (DaaS) offering is specifically designed to help combat the effects of data degradation.

With access to over a billion data points and records of millions of individuals, Datatrac's comprehensive data sets are continuously updated to ensure you always have the most accurate and fresh data at your fingertips. This wealth of information can help your business mitigate the effects of data degradation, keeping your strategies sharp and your decision-making accurate.

Staying Ahead of Data Degradation

Data degradation is an ongoing challenge, but it's not an insurmountable one. By recognising the rate of data decay and taking proactive measures to combat it, you can stay ahead of the curve.

In the world where data is the lifeblood of businesses, understanding and addressing data degradation is not just a need - it's a necessity. Trust Datatrac to provide you with the most up-to-date and accurate data, so you can focus on what you do best - running your business.

Don't let data degradation hold you back. Stay informed, stay accurate, and stay ahead with Datatrac.

Reach out to us today to learn more about how we can help you combat data degradation.