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The Value of Data Quality in Fundraising: A Cornerstone for Success
At Marketsoft, we understand that data quality isn't just a buzzword; it's the backbone of successful fundraising.
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The benefits of data quality freedom can never be over-emphasised, and the best way to achieve it is automation.
1 November 2022 · Marketsoft
Businesses today generate, process, and store vast amounts of data. Making smart decisions depends on the data within their databases and how they extract and use it.
Businesses work towards achieving data quality freedom by ensuring they have excellent data quality on all their platforms.
Achieving data quality freedom is a complex process that requires employing cost-effective and efficient ways of attaining innovative techniques of extracting, connecting, and engaging data for meaningful insights and smart decisions.
Automation is the solution to this problem. Let’s find out more.
Data automation encompasses handling, uploading, and processing information using automated techniques instead of manual execution. It involves replacing the slow, laborious manual processes with procedures done automatically and relatively faster by computers.
Data automation doesn’t require human intervention. Instead, it depends on intelligent processes of collecting, analysing, storing, and transforming data to save money and time while enhancing organisational efficiency.
Automation is also advantageous because it eliminates errors commonly associated with manual processes. Moreover, it makes collecting insights and trends from the data faster.
Data automation comprises several elements.
Data extraction involves sourcing information from one or multiple databases. In most cases, it involves retrieving different forms of data from multiple processes. Physical and logical extraction are two data extraction tools used.
Data transformation involves modifying the extracted data into a particular structure, format, or value to facilitate data analytics. Data transformation can be:
The data transformation process usually occurs via extract, transform, load (ETL) processes. You can use several tools to transform your data. Popular ones include domain-specific languages and scripting languages like SQL and Python.
Data loading involves moving data across systems, folders, or databases. Data loading is the last stage of the ETL process and involves altering the data format. For instance, it can involve changing the format from CSV to DAT or .doc to .txt.
The two primary data loading methods are full and incremental loading. Full loading involves bulk selection and moving of the data, while incremental load entails transferring the data in intervals.
Your data automation strategy depends on your business strategy. Developing a data automation plan that works for your business involves the following steps:
This step involves examining your organisation and determining the areas that can benefit the most from automation. Data automation eliminates the money- and time-wasting manual processes.
Begin by investigating the time your operatives spend executing manual duties. You can also examine the data operations that are consistently slow and failing. Ensure you list all the areas that require improvement.
Data classification involves sorting your data into various groups based on accessibility and importance. Begin this process by examining your inventory to determine the data you can access.
Automated data extraction makes this process much more manageable. But ensure the extraction tool supports formats that align with your business processes.
Prioritising operations involves examining the importance of the process and the time it consumes in manual labour. Also, consider the resources and time required to achieve full automation. Prioritise processes that will result in the most gains for your business once automated.
Outlining the transformations your business requires involves establishing the changes needed to alter your data to the desired size and format. These transformations involve translating raw data into valid, cleansed, and usable forms that you can feed into your data warehouse, operational systems, or repository.
Ensure you identify your system’s correct transformation to achieve your desired results. Using the wrong transformation can corrupt your dataset.
Executing your data strategies is the most challenging phase of the process. It involves:
Once you’ve executed the operation, you’ll need to schedule the data to facilitate regular updating. Scheduling for updates ensures that the process will continue without manual interventions.
Automation has many benefits that will guarantee you data quality freedom. They include:
Processing large business data volumes manually is complicated. It gets even more complex if you’re extracting it in different formats. You’ll need to standardise and validate the information before you can load it into your unified system.
Automation does all these tasks without intervention. It will also minimise resource utilisation, increase data reliability, and save time.
Automation saves data scientists processing time which they can use to generate fresh ideas to support organisational decision-making. It also frees data engineers and analysts from business intelligence and fundamental reporting activities. They can use the extra time to broaden their scope of analysis and bring in additional data sources.
Automation ensures improved data scalability and performance. For example, automation enables Change Data Capture (CDC), which allows you to propagate source-level changes through the organisation based on triggers.
Conversely, manual uploading and updating your organisational data requires considerable expertise and experience and is time-consuming.
Automation improves analytical speed since it requires little human input. Data automation allows computers to execute complex analytics and evaluate vast amounts of data.
You can easily translate the time you save through automation to cost savings. Employee time is a considerable cost to many organisations - usually costlier than computing resources. Investing in automation will reduce your need for human resources while saving your organisation time and money.
The benefits of data quality freedom can never be over-emphasised. The best way to achieve quality data freedom is to invest in automation. It will allow you to complete your data processing efficiently and fast while eliminating errors. It will also result in considerable cost savings.
We strongly believe that successful marketing should not be about short-term returns. Instead, we take a long-term lens to our marketing automation approaches, ensuring our customer communications develop a relationship and ongoing dialogue based on trust, not incentives.
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