As we shift closer than ever to a data-driven world, the advancements of digital technology continue to make tectonic shifts in the way enterprises develop business strategies, assimilate new technology and interact with their consumers. While many businesses recognize the benefits of leveraging a digital-first strategy to retool the ways they do business, many still struggle to sustain the alignment between data integration and data integrity.
However, according to a report by KPMG, only 45% of 2,165 data and analytics decision-makers “consistently use rigorous quality checks to ensure the accuracy of data and analytics models and outputs”.
Data is now driving all major business decisions, and more thought must be given to how data-driven insights can be transformed into actions as well as the tools and environments needed to facilitate this process.
At Loqate, we empower our partners to offer, build, or enhance their applications by leveraging our market leading global address verification, predictive type-ahead technology and geocode products.
Loqate’s solutions provide the technology and data necessary to ensure the capture and maintenance of accurate, verified, and standardized address data.
In this new age of technology and information, organizations around the globe have gained access great volumes of data. But, this influx of data, usually entering systems from a multitude of sources makes manual data correction labor intensive, and increases the likelihood of overlooked inaccuracies. To make a lasting improvement in data quality, organizations must change their approach to capturing and storing information. Loqate’s solutions combine address data collection and verification difficulties, resolving data entry issues such as incomplete addresses data, misspelled names, and missing zip codes at the point of capture.
Those who host less than satisfactory data expose their businesses to increased costs, insufficient operations, and decreased customer confidence. Powered by the most accurate global location data available in the market, Loqate’s Verify Solution continuously works to correct, validate, and enrich the quality of your address databases by comparing your customer and prospect records against our own global reference address data. This process includes the removal of duplicate profiles, the appending of missing data with the most up-to-date information (i.e., names, addresses, zip codes, etc.) and the association of a latitude and longitude coordinate to any address location for pinpoint precision.
By utilizing location data and address verification technologies, businesses can ensure they are extracting precise and meaningful insights, understanding customer journeys, and developing a 360-degree view of their customers. Customer insight can then be applied to customer segmentation, targeted marketing communications, and the optimization of customer experiences across all touchpoints. 42% of marketers plan to focus on improving customer intelligence and insights for a holistic customer view.
Organizations that want to leverage AI must ensure data accuracy first. As a component in the larger ecosystem of data quality, accurate location data serves as fuel for AI-powered tools such as chatbots, self-driving cars, augmented reality (AR) and more. Loqate’s solution powers technology with contextual awareness, providing location-based technology with the data necessary determine their users’ environment or circumstances. Loqate’s geocode and reverse geocode solutions enhance location datasets with the most accurate and up-to-date geospatial information, easily enabling tools to pinpoint the “where” in any situation.
The benefit behind data collection is the improvement in relations between consumers and businesses. Today’s consumers expect not only the highest quality products, but they also require exceptional customer service. To meet these rising expectations, companies require complete and accurate customer data.
Location-based insights give you the power to enrich your customer profiles, engage current customers in new ways, and reach new audiences. By reducing data entry errors on the front-end and enriching customer data on the back end, Loqate’s Address Verification solutions ensure customers receive an optimized and seamless customer experience.
Altogether, Loqate’s partner benefits culminate in increased business efficiency and help our partners get the best product to market and grow revenue.
Loqate offers the only complete global address data solution available on the market. To find out more about our offering, click here.