London, UK, Dec. 8, 2014 — Experian Data Quality, a part of Experian and a leading provider of data quality software and services, today announced that it has been positioned as a Challenger in the Gartner Magic Quadrant for Data Quality Tools research report by Saul Judah, Ted Friedman, which was published on November 26.
In a data-driven age where businesses of all sizes around the world are using information to make decisions, engage with people and drive operational efficiency, data quality management is increasingly recognised as a key element in achieving and maintaining a competitive advantage.
Jonathan Hulford-Funnell, Global Managing Director, Experian Data Quality, said: “We are extremely proud to be positioned as a ‘Challenger’ on Gartner’s Magic Quadrant. We believe it reflects our commitment to helping customers around the world by developing new products and services that tackle their most pressing data quality problems.
“Our own research highlights that poor quality data costs the global economy over £1.67 trillion. Organisations with over 250 employees admit that they are losing between 7% and 14%* of their revenue due to errors in their customer data. We will continue to help businesses address challenging data environments, ensuring they have the best possible data to support their own growth.”
X88 Software, part of the Experian Data Quality product suite, is also once again recognized in the Gartner Data Quality Magic Quadrant. The company is positioned as a visionary, for what we believe is its continued use of innovation to put data quality capability into the hands of business-facing users, significantly reducing time-to-value for customers.
Combined with Experian, customers will benefit from an in-depth understanding of the changing data quality market combined with extensive global product suites, helping businesses gain actionable insights from data.
Download the report by clicking here.
Global research findings
Table 1: Wasted money as a result of inaccurate and incomplete customer or prospect data:
• US – 13% at $2,029,390,000,000
• UK – 14% at $316,461,000,000
• Germany – 8% at $158,005,000,000
• France – 11% at $150,640,000,000
• Spain – 11% at $69,355,000,000
• Netherlands – 7% at $32,839 ,000,000
Therefore the total amount of money wasted across all six countries is approximately $2.8 trillion.
Source: European Commission, Eurostat: Structural business statistics (SBS), Industry and construction, trade and services. SBS covers the ’business economy’ (NACE Rev.2 Sections B to N and Division 95) which includes industry, construction, and distributive trades and services. Note that financial services (NACE Rev.2 Section K) is kept separate because of its specific nature and the limited availability of most types of standard business statistics for this sector. Also, SBS does not cover agriculture, forestry and fishing, nor public administration and (largely) non-market services such as education and health.
An exchange rate of 1 GBP : 1.6 US$ : 1.27 EU€ was used
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We are the leading global information services company, providing data and analytical tools to our clients around the world. We help businesses to manage credit risk, prevent fraud, target marketing offers and automate decision making. We also help people to check their credit report and credit score, and protect against identity theft. In 2014, we were named by Forbes Magazine as one of the ‘World’s Most Innovative Companies’.
We employ approximately 16,000 people in 39 countries and our corporate headquarters are in Dublin, Ireland, with operational headquarters in Nottingham, UK; California, US; and São Paulo, Brazil.
Experian plc is listed on the London Stock Exchange (EXPN) and is a constituent of the FTSE 100 index. Total revenue for the year ended March 31, 2014, was US$4.8 billion.
To find out more about our company, please visit http://www.experianplc.com or watch our documentary, ‘Inside Experian’.