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At financial services firms, marketers rely heavily upon their data to market their products and report performance on a monthly and quarterly basis. In addition to producing fact sheets, pitchbooks, and other vital communication materials, investment marketers are also using data to drive key business decisions.
In either case, it is extremely important for investment companies to place a focus on producing quality data. Otherwise, they risk running into problems from both a regulatory and brand reputation standpoint.
But what is the definition of “data quality”? Why is it important for marketing? And what is the magic formula for achieving quality data?