Do you know the cost of bad data in your HubSpot CRM? In a recent study, IBM emphasized that the US economy alone loses $3.1 trillion annually due to bad data. Numerous other studies have pointed to the extravagant costs and loss of opportunities for businesses that are unable to improve the quality of their databases.
According to Gartner, an average company loses $9.7 million every year due to poor quality data. Interestingly, the cost of bad data isn’t restricted to dollar losses, but it can affect the productivity of an organization and employee morale.
In modern-day business, data can mean the difference between success and failure. Bad data, especially in your HubSpot CRM, hurts brand value due to poor customer experience. It reduces conversions and affects the bottom line. It is a problem you can’t avoid as 30% of your data turns obsolete (or bad) every year. Add complexities such as inadvertent modification, duplication, and deletion, and you can see it doesn’t take much for your data to go bad. Hence, every organization needs to adopt the best practices of data hygiene to overcome this challenge.
In this infographic below, let’s talk about what is data hygiene and…