It is also not news that data has an expiration date, a lifespan that must be respected. The potential that data has to generate value becomes a potential to generate problems if it is used outside this acceptable period, bringing with it very undesirable side effects. The use of expired information can even lead to extreme situations, such as loss of customers and even lawsuits.
This concept is known as Data Shelf-Life and represents the time it takes for information to become useless to a company. Useless, but not yet completely disposable! Logically, it should be expected that updating this data so that it has its useful life extended for a while longer implies some costs for the company that, in many cases, are worth the investment. Depending on the information, this renewal process may be repeated a few times, until the cost of updating the data becomes greater than the advantages of having it stored in your database. And that is where we come to the concept of Data Half-Life , when it then needs to be discarded.
Once these two concepts have been kuwait whatsapp number code reinforced, it becomes much clearer to explain the importance of an updated database for business. There are many examples that we can give here. Imagine that a collection company decides to run a campaign with defaulting customers offering advantages for paying off their debts. Generally, a person changes their phone number every 2 or 3 years, especially people who use the prepaid system. The least of the losses that the company can suffer is wasting money and the time of telemarketers calling incorrect numbers. Now, imagine that, by mistake, someone's personal information is passed on to someone else. In this case, the side effects can be very difficult to resolve.
An updated database allows your company to develop more assertive and profitable strategic plans, with a better definition of the target audience, avoiding wasted time and money. It also allows the qualification of leads, which leads to better targeted efforts that, in addition to avoiding the problems already described above, can increase sales, improve the customer experience and boost your company's reputation.
By cross-referencing updated customer data, it is possible to develop recommendation systems that will lead to more assertive marketing campaigns, optimization of the mix of products to be offered, faster dynamic pricing to achieve better prices and conditions than the competition and even carry out remarketing that convinces your customers to purchase the desired products.
Not to mention that up-to-date and well-processed data can help identify fraud attempts. For example, a criminal makes a purchase using stolen card details and requests delivery to his own address or to a neutral location where he can receive the goods without leaving any traces. A good data analysis will suggest the possibility that this is a fraudulent operation and the system can prevent it from happening.
As you can see, there are countless advantages to keeping an up-to-date database. Get to know BigDataCorp and see what our data can do for your business.