New Data Quality Program Launched at
Eastern Region Conference
During the Eastern Region Conference
last November, the DATAFirst program
was launched in Orlando, Fla. This
program was developed as a solution
to help the electrical distribution
industry with its specific product data
challenges.
This program is important as the
landscape of the electrical distribution
channel is changing. Big companies
with strong online presences—such as
Amazon and Google—have started to
make their way into the channel.
In fact, Jeff Bezos, founder and CEO
of Amazon.com, has stated that
‘Amazon strives to be the e-commerce
destination where consumers can find
and discover anything they want to buy
online.’
“In order to remain competitive,
distributors are going to have to
develop an online presence,” said Tom
Naber, NAED president and CEO.
“One obstacle seems to be the lack of
clear communication of product data
requirements between manufacturers
and distributors,” Naber said. “We are
happy to be able to provide a solution
to help the industry.”
THE CURRENT : WINTER 2014
DATAFirst is not a data warehouse. It is a
comprehensive program that includes
collaboration between distributors and
manufacturers, customized reports and
data management consultation.
The NAED worked with DATAgility, a
leading provider of data management
services, to develop this collaborative,
distributor-driven program.
“We have many threats to the channel,”
said Denise Keating, DATAgility
president. “It’s imperative that we are
proactive in our approach in order to
remain the channel of first choice.”
Those interested in participating in the
program should contact DATAgility at
[email protected].
The Numbers Don’t Lie
• Bad data costs U.S. businesses $600
billion each year.
• The average company wastes
$180,000 per year on direct mail that
never reaches the intended recipient
because of inaccurate data.
• Poor data and the lack of visibility
into data quality is cited as the
number one reason for overrunning
project costs.
• Gartner, provider of research
and analysis in the information
technology industry, estimates
that more than 25% of critical data
within large businesses is somehow
inaccurate or incomplete.
• Poor data across business and
government costs the U.S. economy
$3.1 trillion a year.
• Bad data costs 10-25% of revenue.
stay current
Interested in learning more about how
big companies such as Amazon, Google
and other hard line retailers are chipping
away market share in our channel? Check
out the “Eyes Wide Open” education
session at the upcoming South Central
Region Conference, Feb. 24-26 in Tampa.
DATAgility President Denise Keating will
take a look at the current threats to the
channel and offer suggestions on how
to best compete in this ever-changing
landscape.
• A 1% error rate can more than double
the cost of all transactions.
• Implementing data quality best
practices can boost revenue by 66%.
• Data is believed to double every 12
to 18 months. Corporate data grows
about 40% a year.
• Forty percent of companies have
suffered losses due to poor quality
data.
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