Ultimately, at some point, you may realize that getting help for data quality depression is essential. Once a firm reaches a certain size, often around 100 users, a part-time data steward just can’t keep up with the volume of data changes in most cases. Larger firms will likely require a full-time data steward. And as a firm reaches the 250 user mark, even one dedicated data steward might not be able to do the job alone.
The reason that data quality resources are necessary is that, no matter what you do, keeping up with data changes from hundreds of CRM users is a challenging – and ongoing – job. One reason is that an estimated 25 to 30 percent of data degrades each year. Think about it, people move, get promoted, change companies, get married – and a few die. All this leads to bad data.
Additionally, during an initial CRM rollout, having extra data quality resources will be imperative. If you consider that the average attorney has approximately 500 contacts – some senior partners may have thousands while new associates may only have a few – it’s not uncommon for a CRM rollout for a firm with 100 attorneys to quickly build a database of over 50,000 records. Of those, conservatively 25 percent or more may be duplicates. That means there could be more than 12,000 records that need to be standardized, cleaned and merged. If you assume that a skilled data steward can deal with about 250 records a day, it could easily take months to get the data in order, which is essential to get the professionals to trust – and use the system. This is assuming you have the internal resources…