Garbage in means garbage out.
Cleansing and inputing valuable data that helps you reach your goals
What is "garbage" data?
Garbage data, or bad REV data, refers to records that are irrelevant, outdated, incomplete, duplicate, or inaccurate. This type of data can severely hinder your business’s ability to operate efficiently and make informed decisions.
Irrelevant or Outdated Data
This includes records of companies that have been acquired or employees who have changed roles.
Incomplete or Partial Data
These are entries missing critical information such as industry type or company size.
Duplicate Data
Occurs when the same information exists in multiple places unnecessarily.
Inaccurate Data
These are records with errors, such as incorrect email addresses provided on web forms.
Garbage data can drastically skew your business forecasting and capacity planning. For example, incorrect close dates in your pipeline could lead you to expect projects to close at the wrong time. This not only impacts pipeline management by preventing receiving orders but also slows your growth trajectory over time. Furthermore, clean data is essential for sales representatives to effectively identify valuable leads, segment customers, and tailor to their dealers and end users accordingly.
Don't leave your sales reps guessing! What’s the best way to get rid of garbage data?
1
Map Out the Current Data Process
The REV houses a data dictionary that defines each field within your REV. This involves mapping out what each field currently contains, what it should contain, and proposing resolutions for discrepancies.
2
Complete a Data Assessment
Evaluate which data fields are meaningful and actively contribute to desired business outcomes. This requires analyzing whether specific data points can be reported on, their usage by sales reps, and their overall impact on the business.
3
Share Recommendations
Communicate your findings and recommendations to see change. Suggest additions, modifications, or deletions of fields to enhance data quality. Following this, initiate training for all users on how to maintain data accuracy in their daily operations, possibly including creating and distributing instructional materials.
Rev Software Solutions also hosts quarterly reviews on the effectiveness and usability of its field and processes.
Once your data is cleaned, establish a data quality index using chosen success metrics to monitor and maintain high data standards. Although The REV is a powerful Sales Performance tool, its effectiveness is contingent upon the quality of data fed into it. Investing time in maintaining data hygiene not only enhances functionality but also saves significant time and resources in the long run.
By following these steps, you can ensure that your organization leverages The REV to its full potential, enabling more accurate forecasts, better planning, and more effective sales strategies. Remember, in the world of data, quality is king.
Note of reference: How Do I Clean Up My Dirty Data? by Jen Gustavson – February 28th, 2023