It is generally recognized that customer information typically degrades at a rate of about 3% per month. The natural churn of corporate customer and prospect information will deteriorate/impact more than 30% of customer records within a single fiscal year. Enterprises are challenged to maintain mission-critical workflows and a customer-focused business relationship when vital aspects of their address information are constantly changing.
A key aspect of location intelligence is the ability to keep enterprise data aligned to customer lifecycle changes driven by the external environment. If address data changes because of municipal or postal changes, the enterprise must be able to accommodate internal updates to prevent loss of contact with customers, delayed revenue or loss of important marketing records.
To accomplish this, a location intelligence provider should offer:
Includes on demand updating services to ensure all geographic information and derived references are up-to-date, minimizing the possibility of cascading error throughout lines of business in an enterprise.
Provides a historic view of changes to addresses and other location-specific objects for auditing and change detection purposes.
Provides additional topographic data layers that are critical to many business applications and the location intelligence derived from them, for example: hydrology, roads and land use. These enrich the canvas for business decision making.
Fact: Canadian Addresses Change
- In a typical year, approximately 50,000 postal codes are born, altered or retired affecting over 1.75 million addresses.
- Over 100 municipalities change their name or geographic extent affecting over 3.3 million civic addresses.
- Emergency 911 and other address enhancement initiatives are increasing the nature and rate of change within the Canadian civic address landscape.
Contact us to learn more how DMTI Spatial can assist with keeping your address data up to date.