When you look at the largest companies in the US by market cap, you can see just how important and valuable data has become. What have you ever bought from Google or Facebook directly? Yet Google has over $300 billion and Facebook over $200 billion market cap primarily by monetizing the data they have collected on their customers.

In their latest whitepaper series, Experian Data Quality Benchmark Report highlights some important insights as more and more businesses are turning to the promise of Big Data for Big Insights around the needs of their customers, how best to find new customers and ultimately increase the value of the customers they currently have (not to mention secure future marketing budgets). The latest study found that:

95% of global companies feel driven to turn data into insight
87% of companies are using predictive analytics across their business in one way or another

Predictive Analytics

90% of companies conduct email marketing campaigns to their database
US companies suspect on average that 32% their data is inaccurate

Even if you're not directly responsible for the data quality of your company, this is important information to understand as the future of your business will most certainly be impacted by your ability to turn massive amounts of data into actionable insights that improve your bottom line.

If you're looking for a really good place to start, download Experian's free whitepaper and quickly get caught up on the biggest challenges and opportunities using data to generate actionable insights and create a competitive advantage for your business. Regardless of what industry you serve, you will either benefit from or risk losing future growth on the predictive analytics delivered by the quality of your data.

Published on: Jan 30, 2015
The opinions expressed here by Inc.com columnists are their own, not those of Inc.com.