Lightstone provides a range of specialised Data Quality Solutions via a data management and maintenance system that transforms customer data into a valuable company asset. We provide an end-to-end solution that comprises the software and skills required to clean, standardise, enrich and validate customer information as well as to maintain the database on an on-going basis.
Data Quality Solutions can be provided as an upfront batch service, e.g. processing and profiling of existing data or as an ongoing maintenance solution with either monthly batch runs being processed or integrated as a real-time function at the point of capture to ensure absolute integrity of any new data being collected.
The strictest of data security measures are upheld to ensure the confidentiality of all data transferred, processed and managed.
Data Standardisation:
Data Standardisation involves the cleaning and standardising of customer data. This process will, for example, check for and correct the format of customer name, address and contact detail, ensuring a standard is applied across all records for all relevant fields.
Data Enrichment:
Data Enrichment is a process that allows for the population of 'missing data' with elements being obtained from Lightstone's proprietary data sets as well as external sources.
Examples of elements that can be updated or included are:
- Missing information such as physical address, contact numbers, ID numbers
- Latitude and longitude coordinates for the physical address
- Demographic information such as age, ethnicity and gender
- Income estimate
- Property status gives an indication of whether a person owns or rents one or multiple properties
- Property valuation offers a full report based on Deed's Office data
- Credit status or risk based on Credit Bureau or other data
Benefits of Data Enrichment:
- Completes customer contact information on record, greatly increasing the overall contactability of customers, by direct mail or telephone
- Provides a 'spatial view' of customers, enabling visual representation of where customers live and work across South Africa
- Improves customer analytics or modelling using the spatial, demographic or other information
- Enables advanced segmentation of the customer database, improving ability to create highly targeted campaigns and identification of leads for marketing purposes
- Improves customer segment insight, for example enabling the creation of an early warning system for a particular segment/s that pose as a risk for default or frequently provide incorrect information
Data Validation:
Data Validation is a verification process of accuracy of data using mostly third party sources such as the Credit Bureau, Deed's Office and Home Affairs.
Some examples of verification include:
- Verifies the ID number supplied is a valid SA ID number
- Verifies the ID number and name combination exists as per Home Affairs records
- Checks and validates the physical address exists as per Lightstone's South African National Address Dictionary
- Verifies address details against third party sources such as Credit Bureau or Deed's Office
Benefits of Data Validation:
- Ensures the accuracy and validity of customer information, improving the overall contactability and integrity of the database
- Provides a platform to be able to flag personal information deemed as incorrect by official sources
- Creates an early warning system for customers submitting potentially fraudulent information
Costs of data quality solutions are dynamic and flexible depending on both the quantity and quality of the database concerned as well as the components requiring verification or enrichment.
Contact us today for further information about Data Quality Solutions.