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Data quality 'is key to success'
Jun 30 2011, 10:53 AM
Data quality can be a key factor behind the success of a company, analysts have stated.
According to Channelinsight, information regarding channel sales is often "at a premium" for many businesses.
However, the organisation insisted this type of data is necessary for groups in any industry, as this type of insight into people's behaviour can help to generate money and determine their future strategies.
Mark Geene, Chief Executive of Channelinsight, commented: "Without quick, accurate sales data, companies experience lost revenues, overpayments and ineffective incentive programs."
He added that companies may need to invest in new tools, such as data management software, to help the garner the information they require.
Mr Geene was speaking after a survey by Channelinsight found that only in three of the companies polled believe their incentive programs are yielding positive results.
This followed a separate survey by PricewaterhouseCoopers, which concluded that marketers are spending their money in a variety of new and innovative ways, as they are embracing a multi-platform environment.
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