Tools for effective data quality management
How to double the half-life of customer data
The half-life of customer data is seven years on average. This means that after seven years, half of the data is already out of date, for example because customers have moved house, got married or taken out a new telephone contract. The data quality tools TL Match, TL Post, TL Name, TL Move and TL Bank from TOLERANT Software considerably increase the half-life of customer data.
There are currently over 84 million people living in over 40 million households in Germany. Every year, around 350,000 marriages take place in Germany, 140,000 marriages are divorced and 800,000 children are born. An average of 10 million people move house in the course of a year. In addition, between 5,000 and 10,000 streets and place names change every year due to structural reforms, incorporations and new developments, which affects around 0.5 to 1 % of addresses.
This change has an impact on companies’ customer data. Data, and in particular customer data in CRM and ERP systems, is constantly changing. Even data that is correct today is outdated after a certain time, for example because employees change, telephone numbers change or streets are renamed. The data quality in the customer base also deteriorates if names are misspelled, duplicates are created or addresses are entered incorrectly due to transposed numbers in the postcode.
To solve these problems and improve the data quality in the customer base, TOLERANT Software offers a range of data quality tools: TL Match, TL Post, TL Move, TL Bank and TL Name.
- The TL Match duplicate check tool identifies customers quickly and error-tolerantly in large databases and merges data in a cleansed form.
- The TL Post address validation tool checks and standardizes national and international addresses to ensure that they are up-to-date and correct.
- The TL Name verification tool, which specializes in personal names, checks the correct spelling of names as soon as they are entered.
- The TL Move relocation data tool determines new addresses after a move or for recipients who have moved to an unknown address.
- The TL Bank tool for bank data checks account details and automatically adds missing features such as BIC and IBAN.
Overall, the data quality tools from TOLERANT Software increase the half-life of customer data by a factor of 2, so that half of the data is not out of date after seven years, but only after 14 years. Together with regular customer contact, which is essential for data collection, the tools from TOLERANT Software form an efficient tool for data quality management. With the DQ tools, robust processes can be established to effectively handle customer feedback and undeliverable information. This is the only way for companies to ensure that their customer data is always up to date and can be utilised efficiently.
You can find more information about our data quality tools here:
