> GBG Loqate > ‘Addressing’ Data Quality: 3 Business Cases for Adopting an Address Verification System

‘Addressing’ Data Quality: 3 Business Cases for Adopting an Address Verification System

White Paper Published By: GBG Loqate
GBG Loqate
Published:  Jul 09, 2015
Type:  White Paper
Length:  12 pages

Imagine that you own an online shop and have to ship your customers the goods they purchase from you. Within each package, someone in your organization places a signed blank check without your knowledge. You are not aware of these checks being sent out until your monthly bank statement shows several large withdrawals.

Now imagine that you provide home insurance to your customers, but your are not allowed to ask about the house’s location before you insure it. You can’t tell if the house is built in a flood zone or near a potential landslide. You decide to take a chance on the premiums and hope for the best.

Finally, imagine that you need to plan a direct mail marketing campaign and send a sample or a brochure to all your customers. You don’t know how many customers have wrong or incomplete addresses in your database, and you have no way of estimating the mailing costs and penalties.

These are the problems that businesses face when they attempt to service their customers without an address verification system. Addresses are fickle, complicated things. There are more than fifty ways to write 10 N 1st St Miamisburg OH 45342-2305 wrong. This becomes even more complicated when dealing with international businesses. Do you know whether that address should be written ???? 6- 1-8 ???????242-0002or242-0002???????????6-1-8?Orifthatstringof characters is even a real address?

Businesses are vulnerable when they assume that their data is accurate, because they are almost always losing money without their knowledge. When it comes to data quality, the problems that you don’t suspect are often worse and more pervasive than the ones you are aware of. Addresses are subject to their own specific set of rules. Detecting and correcting address errors is a complex problem, and one that can only be solved with specialized software.

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