Now we know that the banks really can't package subprime loans together and magically make risk disappear.
The CRM industry has a similar issue with data quality. Over the years it's one of the most common problems mentioned in our research on what delays projects or undermines their success.
Now Jigsaw [1] aims to solve that problem with a cloud-based "Data Fusion" service that combines crowd-sourced contact acquisition with a new "data hygiene" service to ensure that users get complete and up-to-date information.
Ever wonder what happens to those business cards you hand out? Some are making their way into Jigsaw. CEO Jim Fowler says users have contributed 12M records so far, with 15K pouring in every day. Users can earn points by posting or updating information, and spend points by accessing contacts they want. Corporations, the main driver of the revenue model, can pay $5,000 per year per seat to get unlimited data access.
Now with Data Fusion, for $99 per month, users (mostly sales reps) can get clean data piped right into their Salesforce.com account.
Reps at Overtone [2], a cloud-based text mining service, were using a "smattering of data from a wide variety of sources," according to Russell Wirth, Senior VP or Sales. He estimates that around one-third of records were dead and 50 percent were incomplete—which meant wasted time for his reps trying to contact sales "suspects." In about six weeks of usage Wirth says the new service has improved sales efficiency, streamlined data administration and reporting, and doubled the number of contacts they use from 15K to 30K.
Read the press release [3] for more information.