09 November 2019

How to Gain Buy-In and Budget: Turning Data into ROI

Written By Adam Leslie, Dun & Bradstreet

How to Gain Buy-In and Budget: Turning Data into ROI

The biggest hindrance to organizational data quality is the struggle in generating a meaningful value statement to gain the investment required.

Arguably much of the marketing, consultancy statistics, and whitepapers concerning data quality gain little more than a resigned nod of understanding from their recipients. The challenge in gaining stakeholder buy-in is demonstrating and articulating the effect on their own organization’s turnover.

The size of this challenge is exemplified in the recent Dun & Bradstreet B2B Marketing Data Report, where 89% of B2B sales and marketing professionals believe data quality drives the right campaigns. However, nearly 50% of organizations are not confident in the quality of their data, and worryingly this percentage is higher than the previous year.

What Do We Need to Do to Resolve the Issue?

So, it’s the marketing and approach that has to be different – with prevalent market awareness of the challenge, data providers now need to help provide a structure to enable an understanding from those that don’t deal with the data but who hold the budget. This is the reason the Data Quality Return on Investment calculator was generated.

The Solution

The Data Quality Return on Investment calculator splits a business into three categories and 25 metrics covering diverse areas of the organization including:

    •    The cost to the organization of processing data (both creation and maintenance).
    •    Effect on retention, up-sale and lead conversion.
    •    Hours of sales time lost searching and updating the database.
    •    Landing page and marketing qualified leads conversion rates.
    •    Effects on shipping expenses and support to sales staff ratios.

An organization will usually select the three or four metrics most important to them – at which point the structure highlights the key numbers they need to source internally in order to gain a relevant ROI number that the finance team accept and to which the board can relate, absorb and buy into. If something isn’t working – and the results of our recent survey shows a marked decrease in organizational data quality – then we need to think differently. Little substantiated qualification of the value of accurate data has progressed in the past 15 years, and the Data Quality Return on Investment calculator is designed to work with the consultancy statistics and whitepapers to help organizations successfully gain the necessary budget to unlock the returns they are currently missing.

Download the full report

Register for the webinar

Up Next ...
28 March 2024

EToro adds 12 tokens to crypto lineup

EToro, the trading and investing platform, announced today that it ...

28 March 2024

Robinhood launches credit card

Robinhood continues to expand beyond its stock trading origins.In brief:- ...

28 March 2024

Sandbox Banking partner Plaid

Sandbox Banking and Plaid partner to strengthen identity verification and ...

27 March 2024

Targeting $180M in Revenue, Vault Aims to Lead the $50B Digital Crypto Banking Market

Written By: Vault

Vault's approach of providing personalized, effective, and affordable white label solutions for digital and crypto banking has captured the interest of a diverse range of...

More in Data Management

AccessPay and Sage Forge Partnership to Enhance and Streamline Reconciliation Processes

12 December 2023

AccessPay, the leading corporate-to-bank integration provider, has announced that it ...

Posted By The Community

Solidatus recognised in 2022 Gartner® Market Guide

01 December 2022

Last month, Gartner® published its Market Guide for Active Metadata Management*. We were delighted – but not surprised – to see that Solidatus was named a Represe...

Written By: Solidatus

Solidatus adds more industry veterans 

11 January 2022

Data management business Solidatus has added a further three industry ...

Solidatus, British Business Bank to partner on data management 

12 August 2021

Solidatus has been selected by the British Business Bank to ...

Articles Data Management

Safeguarding Supply Chains to Survive and Thrive

04 August 2020

The Importance of Data to Business Continuity in a Crisis   Supply chains have been under...

Articles Data Management

Guidance on Transfers of Personal Data from Ireland to the UK in the Event of a 'No-Deal' Brexit

10 October 2019

With the advent of the GDPR in particular, countries in the EU have very high standards of data prot...

There are no Events in this category