REDMOND, WASH. MAY 23, 2023
Research shows that bad data costs U.S. businesses more than $3 trillion per year – dragging down performance of marketing campaigns and ROI. Versium, a leading data technology company, today announced the launch of its new Data Prep product – a solution that empowers marketers to quickly fix massive amounts of data at scale so it can be deployed more effectively in all data-driven marketing activities.
The $3 trillion dirty data problem
Errors and inconsistencies in data can be gathered and entered into systems in a number of ways, impacting the effectiveness of marketing campaigns and AI initiatives. When companies rely on incorrect, incomplete, duplicate and invalid data – or “dirty data” – they waste costly resources such as time and money on marketing campaigns that do not reach their target audience. Studies show that organizations could realize nearly 70% more revenue from improved data quality alone, shedding light on the biggest opportunity for marketers needing to do more with less.
Versium’s Data Prep is designed for businesses that need to manage and fix large amounts of data but don’t have the resources or expertise to do so effectively. Data Prep rapidly diagnoses large volumes of data and automatically fixes errors, such as missing fields, inconsistent formatting, typos and more, preparing data for further enrichment or even AI models, greatly increasing the ability to reach a target audience across all channels. Data Prep uses AI models to parse identity data such as location, job titles and names, to ensure consistency across large volumes of data.
“Data – especially first-party data – is everything in today’s digital landscape with the rise of AI. But there are myriad scenarios where bad data can be captured or entered, and we know that dirty data ‘in’ translates to dirty data ‘out,’” said Kevin Marcus, co-founder and CTO of Versium. “Data Prep empowers anyone to automate the data cleansing process – the first step in the data journey for most marketers looking to unlock better insights or implement AI in their marketing strategies. Data Prep can be accessed through our REACH UI or directly integrated into your own data pipelines through our APIs.”
An end-to-end platform for every step of the data journey
Thousands of businesses already use Versium to enrich their marketing data and improve reach by 5X, and Data Prep is the latest expansion of their data solutions to help clients unlock the full potential of their data.
“Versium knows data – with more than 10 years of helping marketers effectively use data to better understand and reach their target audience, we are expanding our suite of solutions to help our customers fix all the problems in their data,” said Chris Matty, co-founder and CRO of Versium. “Data Prep is the culmination of years of customer feedback on issues with their data quality. We saw a huge opportunity for them to increase their revenue just by fixing issues in their data, even before using any of our other data tools. Now, marketers can cleanse, enrich and activate their data all from our single, easy-to-use platform.”
Easy-to-use tools and APIs for marketers and developers
Marketers can access Data Prep through Versium’s cloud-based REACH platform, along with the complete suite of data solutions, and developers can utilize Versium’s expansive set of APIs and open source tools to build these solutions and workflows directly into their own platforms.
For more information, visit https://www.versium.com.
Versium transforms data into a strategic asset that improves marketing performance. Versium’s all-in-one data technology platform helps teams cleanse, enrich and action their data through easy-to-use tools, a robust set of APIs and the richest identity graph and insights engine that includes over 2 billion contact points. Versium supports businesses at every step of their data journey, thereby increasing audience reach by up to 5X and engagement by up to 10X for thousands of customers. For more information, please visit https://versium.com.