Spoiler alert: this is really what most companies are at.
The “big data” narrative from a few years back introduced the idea that ‘the more data the better’, but today’s companies are most likely drowning in it.
Also: the problem is rather around how to store, organize, and complement the data they have.
What most companies end up doing is huge data “hygiene” exercises that are estimated to take 3 months of work, end up taking most of the time 6 months, if not 9 months or more in some cases.
Meanwhile, you’re missing out on revenue acceleration opportunities that exist today within your customers/prospects base, on which you can’t act on because you don’t see them bubble up at the relevant time.
The core issue being that data “hygiene” is a rabbit hole that’s never really entirely *done*.
Fun fact: we looked at 100+ Hubspot instances we have access to, and we were surprised to discover that more than 70% of fields have less than 30% fill-up rate.
Also: of those fields that do contain values, most of them contain 10 or fewer unique values per field.
BTW if you look into your entire stack and draw a correlation with conversion lift, the most likely situation is that the top10 fields will have a 3-10X lift on the average conversion.
Here’s what the most sophisticated organizations do instead: start with what you have, create a closed feedback loop between data and revenue, focus on the 20% of the data that influences 80% of the revenue, iterate on it.