Data Standardization Services - Introduction, Importance, Key Highlights, And Advantages

Data Standardization Services - Introduction, Importance, Key Highlights, And Advantages 

In business, there is a fine line between wobbling endlessly and balancing with intelligence. That fine line is data standardization. If you are also looking for data standardization services providing companies to improve your communication, collaboration, and relation with clients, then this guide will come in handy. 

Table of Content

1. Introduction To Data Standardization Services.

2. How A Business Goes Without Standardized Data?

3. Why Is Data Standardization Process Important? 

4. How Data Standardization Is Different From Data Cleansing & Data Normalization?

5. Advantages Of Outsourcing Data Standardization Services. 

Introduction To Data Standardization Services

Data standardization is a method of transforming data into a common format from various sources such as databases, cloud storage, data centers among others. This process is performed so that users can access all the data in one place and analyze it wisely. When data is not placed uniformly in one place, users face difficulty in not only analyzing them but also fails to visualize them and produce dashboards. 

This diagram represents how data are collected from different sources in different formats and put into a standardized form.

The process of Data standardization assists in making a tidy collection of data and developing a detailed catalog of your data. So that while searching for insights or solving issues, you will have a good understanding of your data.

Data standardization seems to be an easy task but requires a certain amount of knowledge and experience. And, there lies the role of a data standardization services providing company. 

How A Business Goes Without Standardized Data?

As per a recent survey by Forbes, 18% of all telephone numbers of organizations change in a year. Not only this, 21% of CEOs change their personal numbers every year. That’s not it, we have more, up to 60% of employees change their job functions within the organizations. 

So imagine, how difficult it would be for you to contact a client using the same old contact number? Because the person might not only have changed his contact number but also the job profile or maybe just shifted to some other company. Hence, data decays at a rapid rate, and organizations that are missing out on updating and standardizing their existing data are involved in taking the wrong calls. 

It is estimated that in a year, a sales organization can lose 550 hours in selling time which is almost 27% of total selling time because of the incorrect data. Dirty and corrupted data has the potential to pollute all the good records of your organization. Wondering how availing Data and address standardization services can save you from sinking? Let’s discover. 

How Is Data And Address Standardization Process Performed?

Any giant organization possesses a large amount of data coming from various sources kept in known and unknown folders. Hence, it is clear that the standardization process needs the hands of skillful people and some advanced programs. 

Here are the four main steps that involve in the Data and address standardization process: 

1. Read and analyze client’s data and their requirements.

2. In-depth understanding of client’s data entry points. 

3. Find the best standardization strategy for the client's greatest flow in the long run. 

4. Standardize the client’s data and prepare the final material to provide.

Experts may use advanced and automated programs to clean and standardize your organization’s data. Below are the key highlights of their job responsibility: 

1. Resolve typos of name, email address, and postal address. 

2. Delete the expired and unwanted details of the client. 

3. Replace the old data with the most recent ones. 

4. Draw out the numerical characters from the mutual prefixes and suffixes. 

5. Count all the similar words and group them into a select column. 

6. Create files in a manner so that it is easier for you to find correct data quickly. 

7. Create custom dictionaries to add new words as per the requirement of your organization and clients.

8. Find keywords from various sources and place them into one. 

For your better understanding of the process of data and address standardization, let us take you through some of the examples:

1. The address (Country and States) found in the database as “NY” and “NEW YORK”, standardizing them into one type of form. 

2. The Names of the Clients or Employees found in the data as “samayara” and “SAMAYARA”, standardizing them into “Samayara”.

3. The address (Street) found in the data as “St.”, “Street”, “st”, and “STREET”, standardizing them into one type of form. 

4. Commonly misspelled words like “programme”, “coorporation”, and more. Standardizing them into the correct form. 

5. Name of the companies written in several ways: “ABC Pvt Ltd”, “RTG PVT LTD”, and “KL Private Limited”, standardizing into one form-type.

Data standardization services providers use several techniques such as data matching, data scrubbing, and more to provide their clients clean, consistent, and standardized data. 

Why Is Data Standardization Process Important? 

Data standardization is a very imperative process for any organization irrespective of what field they belong to. This process helps organizations in making better business decisions, necessitates a holistic view of consumers.

In the General Assembly of the United Nations, the year 2015, they outlined the importance of standardized and complete Data. 

“We recognize that baseline data for several of the targets remains unavailable, and we call for increased support for strengthening data collection and capacity building in the Member States, to develop national and global baselines where they do not yet exist. We commit to addressing this gap in data collection so as to better inform the measurement of progress, in particular for those targets below which do not have clear numerical targets.”

In the 2030 Agenda for Sustainable Development

United Nations, 2015

Organizations have seen an enormous increase in the availability of data because of the newly introduced platforms like social media and other digital platforms. That is why it is important to cross-check every piece of information we possess and keep the correct data in a standardized form. 

Companies that avail Data standardization services have seen up to a 12.5% of the increase in their growth. As their communication and collaboration with their clients have improved. 

How Data Standardization Is Different From Data Cleansing & Data Normalization?

Organizations often get confused between Data Cleansing, Data Standardization, and Data Normalizing. To understand the role of all three, let’s look into them separately. 

Data cleansing is the process of improving the quality of data by discarding or correcting inaccurate and irrelevant data. Usually, data cleansing services are available when you want your data to be complete, consistent, and accurate. 

Whereas, data and address standardization process deals with transforming the data that was stored in different formats to a standard format. As a result, your data gets corrected and harmonized. Data standardization services providers get all your data in their specified places so that you can access them quickly.

On the other hand, data normalization comes from the same process of data standardization but both are different things. It aims to reduce the redundancy of data and extracts the unwanted characters from the database. 

Advantages Of Outsourcing Data Standardization Services 

Data and address standardization services are provided after analyzing your company's requirements. By outsourcing data standardization services you will have numerous benefits. Some of them are discussed below: 

1. A greater emphasis on functional areas 

2. Cleaned and standardized data will help you in making better decisions for your business.  

3. Your overall productivity will be improved, your dedicated team will no more be wasting their time on inaccurate data while trying to reach the clients. 

4. As you don’t have to cross-check with the Client’s details anymore. You will have more flexibility in managing a variety of tasks at a time. 

5. Save about 65% of the revenue that used to be deducted in operating tasks.

6.  Fast turn-around on clients without inaccurate and poor data quality.

7. Keep your data protected from potential online threats.

8. No decision will be made or deals will be cracked on the basis of guesses. 

9. Build good relationships between you and your employees. As their skills will be appreciated. 

10. No more competing with unhealthy organizations. 

Read how you can leverage data standardization for enhanced business insights to learn more.

By the end of the article, you must have learned about the complete functioning of data standardization. After knowing the advantages of availing its services, we are sure you must be looking for the best providers. Leave a comment if you have any queries or want to know about some of the globally appreciated data standardization services providing companies, we will get back to you with the best-suited answer.