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Data matching plays an important role in helping marketing managers to devise marketing campaigns. With the advent of modern data matching tools, market research has become quite simpler and easier. Studying the data collected from thousands and millions of consumers and identifying patterns would take an inordinate amount of time and resources. With the help of modern data matching software, this momentous task can be done within minutes. But there’s a catch –if the data matching tool isn’t accurate and the quality of data matched is poor, it could have an adverse impact on marketing campaigns. To fully comprehend the impact of poor data matching on marketing endeavors, we must first develop a better understanding of data matching in its entirety.
Data matching –what is it and what does it entail?
Often referred to as record linkage, data matching is the process in which corresponding entries in a database are identified and matched across one or more than one databases. At its core, data matching is a tool utilized to identify and match data in humungous databases. In simpler terms, data matching is akin to a modern tool which can find all matching records and information related to a certain topic, individual or query from a wide pool of information stored in the database(s). Akin to a web-based search engine, you simply search the database using certain keywords of your choice and the data matching software will identify and match all corresponding results within a matter of seconds.
Data matching software and tools are developed using cutting-edge algorithms and mechanisms. These tools through the process of record linking identify corresponding entries. This makes handling of large volumes data quite easy and simple. Especially in large-scale applications such as managing warehouses of major business organizations, data matching tools come in handy as they increase efficiency. Due to their ability to find information in large databases within seconds, data matching has been increasingly used in different industries and applications as well. From maintaining and managing healthcare records to identifying and tracking criminals within national databases.
The role of Data Matching in Marketing
Marketing is one of the major industries in the contemporary business environment. Every organization, large or small, relies heavily on its marketing strategies to increase the sales of its products and services. In order to improve the efficiency and effectiveness of their marketing campaigns, organizations and their marketing agencies indulge in extensive research of their target audiences. In a globalized world with billions of potential consumers, conducting market research can be quite a laborious job. This is where data matching comes in –with its ability to identify and match records with similar characteristics within seconds.
Just like it helps business organizations keep track of their inventory, data matching allows marketing agencies and organizations to study and identify patterns from a database consisting of records from thousands or even millions of consumers. Without data matching, conducting market research would take at least months, if not years. Going through each and every person’s records to find corresponding results would take eons. But with data matching, market research has become a lot easier and time-efficient.
The success of a marketing campaign depends heavily upon the market research conducted prior to its development. Essentially, a market research informs the marketing agencies and business organizations the current market trends and consumer preferences. Then using this information procured through extensive market research, a marketing campaign is devised. The aim of the campaign is to use the information collected through market research to the company’s advantage. Therefore, it is imperative that the data collected through market research is accurate and authentic. While data matching tools have increased efficiency, most systems do not provide the desired level of data accuracy resulting in poor data matching.
Impact of poor data matching on Marketing Campaigns
Poor data matching can have a tremendously adverse impact on marketing campaigns. As mentioned above, major market researchers are conducted using data matching tools. Using the information collected through this research is used to devise marketing campaigns. If the quality of the data collected during the market research is below par, it could impact the overall effectiveness and success of the marketing campaign.
For instance, if the research sought to find out the average age of people from a large database and the data matching was poor, it would represent false or inaccurate results. Misled by inaccurate poorly matched data, the marketing team would not be able to develop an appropriate marketing strategy. The impact of poor data matching is not just limited to the success of marketing campaigns –it ultimately impacts the organizations and brands for which these marketing campaigns were designed for.
In other words, the impact of poor data matching are immense and they even can potentially cause the sales of a company’s product to plummet. Therefore, it is important to ensure that the quality of data is impeccable. Data matching software is certainly an extremely useful tool and exponentially improve efficiency in carrying out extensive market research. But if the data matching is erroneous, it could have drastically negative implications.
Factors behind poor data matching – low-quality data matching tools and lack of expertise
Essentially, two major factors contribute to poor data matching, particularly in marketing; low quality poorly developed data matching systems and the dearth of basic expertise required to use data matching systems. Subpar, cheaply made data matching tools are considered to be the main culprit behind poor data matching in marketing applications.
Therefore, it is recommended to invest in data matching software and tools which are reliable, well-designed and ensure the utmost level of accuracy. Secondly, it is also necessary for researchers or marketing professionals to acquaint themselves with the machinations of data matching tools to use them more accurately and effectively.
In summation, the impact of poor data matching on marketing campaigns could have immensely negative ramifications. Poor data can misguide and mislead marketing teams and hinder the ability to plan better and more successful marketing campaigns.