The cost of bad - or "dirty" - data is higher than you might think. As noted by Harvard Business Review, IBM determined that $3.1 trillion is lost to poor-quality data each year. Some of that missed revenue can be chalked up to dirty location data preventing customers from shopping at physical retail stores.
So you’re looking to buy a local marketing platform. Let me guess, the whole process has left you feeling a bit overwhelmed. No doubt you’ve done your homework and researched the major providers. In fact, I’m willing to bet that you have a product checklist sitting in front of you.
You’ve spent hours—days even—cleaning up your location data. Every map pin is in its proper place. Addresses and phone numbers are checked and doubled checked. You’ve also claimed and merged the duplicate listings hemorrhaging traffic from your local pages. It’s time to wipe your hands and mark “location data” off your spring cleaning list, right?
People typically think of location data as your current location according to your smartphone. However, while a user’s geo-coordinates are certainly an element of location data (and a valuable one at that), location data has evolved well beyond this user-centric concept, especially when it comes to businesses.