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The Value of Reference Data in the Cloud

Posted by Bob Brauer on Thu, Jan 13, 2011
  
  
  
  
  
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Improving the value of internal contact data assests is one area where the Cloud be of significant value and competitive edge.

Data quality functions such as address and telephone number verification require actual reference data for the the complete validation process to occur. Not only must an address or telephone number have the proper structure and the individual data elements standardized to be of use, but a data comparison must happen to determine whether or not the point of contact actually exists in the physical world.

To be of maximum value, this kind of comparison must be made against trusted reference data. This reference data usually comes from "truth" sources such as postal authorities and the various databases they publish, public telephone number resources, and several other points of reference.

The challenge with utilizing these reference datasets as part of the validation process is that the contant is always changing. New homes are built, new area codes and zip codes emerge, and points of contact frequently change. Using outdated reference data can make these validations of diminishing value.  On the flip side, there can be considerable cost associated with frequently updating these sources of reference data.

This makes the Cloud an ideal scenario for these kinds of contact data verification functions. In this approach, all of the reference data can be changed/updated in just one place. Then, many different systems, applications, and Web sites from multiple organizations can share and utilize the same, constantly-updated reference data.

These shared reference datasets are not typically accessed directly and in the raw. They are best utilized via standardized Cloud services that provide an interface and some additional matching capabilities for maximum results. It is the access to these interfaces which is actually shared.

This approach dramatically reduces the effort involved for those organizations who find it necessary, if not crucial, to have the highest possible degree of accuracy and validation within their customer and prospect contact data. The ongoing, internal data updating requirements of the reference data disappear (as well as the corresponding cost) as it all happens behind the scenes in the Cloud by the managing organization (such as StrikeIron).

Using Web Services protocols such as SOAP and REST then make it easy to snap this functionality into applications and business processes, systems, and Web sites of all kinds where contact data is captured, regardless of the software or hardware platforms in use.

This is a great example of leveraging the Cloud for better, easier, more cost-effective solutions, especially in the area of contact data information, where more accurate and up-to-date internal contact data is of critical importance.

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Validating Phone Numbers in Real-Time

Posted by Bob Brauer on Mon, Jan 03, 2011
  
  
  
  
  
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As part of our Contact Record Verification Suite, StrikeIron has the ability to instantly validate phone numbers. This means that via an integrated Web service, you can send us a phone number and we will respond with the validity of the phone number, including the city, county, time zone, span of zip codes for which this number might exist, including some basic population demographics about the area.

This can be ideal for ensuring high quality data before it is ever inserted into a CRM system for example, whether from a Web-to-lead form or from a call center representative, and can provide some considerable fraud detection value as well.

Here is an example:

Passing us phone number 330-336-2051

Yields the following result:

StatusDescription = Area Code and Exchange Valid
OriginalPhoneNumber = 3303362051
DecoratedPhoneNumber = (330) 336-2051
AreaCode = 330
Exchange = 336
Station = 2051
Country = US
State = OH
City = WADSWORTH
County = MEDINA
Timezone = -5
DST = 1
CountyPopulation = 151000
ZipCode = 44281
ZipCodeCount = 3935
ZipCodeFrequency = 87
ZipCode = 44203
ZipCodeCount = 213
ZipCodeFrequency = 5
ZipCode = 44273
ZipCodeCount = 156
ZipCodeFrequency = 3
ZipCode = 44256
ZipCodeCount = 94
ZipCodeFrequency = 2
ZipCode = 44270
ZipCodeCount = 78
ZipCodeFrequency = 2


This data can be useful in a variety of different ways, and since we provide the result in XML, you can then utilize this data in whatever way makes sense for you. Integrating this kind of phone number validation check into a business process, Website, application, or anything else can be quite useful. 

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Migrating to a New CRM Platform? Don't Miss the Data Opportunity

Posted by Bob Brauer on Mon, Jan 03, 2011
  
  
  
  
  
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As technology evolves, companies inevitably upgrade to new CRM systems, often from new vendors, and often moving to completely different platform approaches, such as from enterprise CRM software to software-as-a-service or "Cloud" solutions. Salesforce.com, Netsuite, Microsoft CRM, Oracle CRM On Demand, SugarCRM and the myriad other CRM platforms all provide ways to import legacy data into them, but this should only be one small piece of the actual data migration.

Since any CRM system is only as good as the data within it, a CRM migration represents a unique opportunity to significantly increase the value and usefulness of the internal data assets that can fuel the success of the new system. A well-thought-out, comprehensive data migration plan can be worth its weight in gold.

For example, a CRM migration is a great time to:

- Validate email addresses to ensure that they are current and the particular contact still works at his or her listed organization (if not, this can be an opportunity to re-engage with contact organizations)
- Validate all physical addresses are valid and deliverable for future communication purposes
- Ensure phone numbers are valid and up-to-date
- Eliminate junk contact records
- Eliminate duplicate/redundant contacts (Robert Johnson at IBM and Bob Johnston at International Business Machines)
- Fill in missing data (missing addresses, phone numbers, email addresses, etc.)
- Enhance existing data by adding useful demographics such as an organization's number of employees, revenue, SIC code, and more
- Standardize data to ensure non-ambiguous representation in the database for better reporting (Ohio=OH,VP=Vice President), etc.
- Take the time to apply any other organization-specific data requirements that can help increase levels of success

Other things a data-centric organization can do during a CRM system upgrade  is to put filters and other real-time data quality and data enhancement mechanisms in place at new points of data collection such as Web-to-lead forms. This can ensure the data doesn't degrade over time, and that these same sets of issues don't exist a year later.

It's also important to establish an ongoing data management plan, complete with goals, metrics, and incentives.

Experienced, insightful data professionals will recognize the unique opportunity CRM migration represents. Don't let it slip away.
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Do You Have a Data Management Plan?

Posted by Bob Brauer on Mon, Jan 03, 2011
  
  
  
  
  
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One of the most important asset categories an organization has is its collection of data assets. This is why so much money is spent on databases, applications, hardware, software, people, and other information system line items: to support these data assets because people understand in general the value of these data assets and how they can help an organization succeed. Often, information technology costs are even far more than other parts of the organization.

We all know that systems are only as good and useful as the data within them. Yet, so few companies have plans around the quality and completeness of the data that sits at the very core of these systems where major investments have been made.

Most companies have general business plans, sales incentive plans, go-to-market plans, financial plans, technology adoption plans, and product offering plans. But how many organizations actually have a 'data management' plan in place?

If you are not sure if your organization has one, or if you think your organization has one and you surmise it is not an effective one, here are some questions to ask:

Is there an individual in your organization responsible for the overall quality, completeness, accuracy, and comprehensiveness of the data assets that form the lifeblood of the various systems in use by the organization?

Is there an actual written data management plan accessible by all, one that states what the goals of the plan are, and establishes metrics for achieving those goals?

Is there a process for ongoing "data quality testing" to ensure that the data management policies in place are actually being adhered to and achieved?

Are members of every department aware of the policies that exist in the plan? Are they enforced across the organization? Are all employees trained on these policies?

Is there a technology strategy as part of the data management plan? Have technologies and products been identified and under review to determine if they can help an organization meet the goals stated in the management plan?

If you are not comfortable with the answers to these questions, chances are a plan doesn't exist, or if it does, its implementation has been poor and is likely ineffective.

The data an organization has about customers, potential customers, partners, and other contacts can be such a critical, competitive advantage in the marketplace. If there is not a plan to maximize the value of these data assets in place, at least a basic plan with basic metrics, then I think a lot of opportunity for your organization is simply being lost. Since this is one of those areas of the business where you have practically 100% control over, not having a data management plan in place is a sure sign that your data, and your organization, is far from what it could be.
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Cloud Companies' Share Price Increase Dramatic Versus Dow

Posted by Bob Brauer on Mon, Jan 03, 2011
  
  
  
  
  
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The "Cloud" has been seeing a lot of momentum this past year, and one place where that is readily apparent is in the stock price of companies making major strategic investments in Cloud technology and associated offerings, as well as aggressive go-to-market plans with those offerings.

To demonstrate this, take a look at the one-year stock price increase of eight major cloud vendors versus the Dow Jones Industrial Average. These eight growth companies were selected because of their software-as-a-service (SAAS) or infrastructure-as-a-service (IAAS) focus. They are Informatica (INFA), Salesforce.com (CRM), Amazon (AMZN), Netsuite (N), Rackspace (RAX), Success Factors (SFSF), Akamai (AKAM), and VMWare (VMW). These securities have seen on average an 81% price increase over the past year, versus a paltry 6% versus the Dow Jones Industrial Average (which at least has gone up).

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Will it continue? There is still a long way to go in this space, so probably so.
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