As explained in our eBook A Valuable Book-of-Business: Preparing for sale, transfer, or growth in your agency, “clean data” is as follows:
“Clean data” is data that is formatted in an orderly unit. But it is more than that. “Clean data” requires “continual upkeep and a team effort to maintain the organization.” Here’s a refresher from the eBook on how “clean data” appears vs. data that is not as “clean”:
Not “clean data”
Why does it matter?
As you can see, the images above portray a simplified example of the difference between data that is “clean” and data that is not, but the difference is striking. The data formatted in a “clean,” cohesive unit is much easier to read, easier to navigate, and overall looks better.
Having your data organized can help you be more prosperous and efficient throughout the day. Here are some things you could achieve with cleaner data:
- Faster response times to clients and coworkers. You’ll be able to sort through the data quicker and find the information you need in an easier manner so that you can answer questions faster whether they’re from clients or co-workers.
- Allow you to be more informed. “Clean data” can give you accurate analytics about the health of your insurance agency. Just think how much easier it would be to identify the number of prospects you have or figure out how many people you have in each application status when all of your data is organized and entered following the same guidelines.
- More accurate results. When your data is organized, outcomes become more accurate for things like reporting, sharing across multiple applications and variable data actions.
- Reduce duplicate records. “Clean data” helps you manage and detect duplicated entries so you can consolidate your records into one complete entry. This ensures that you never miss notes and attachments with your entries so you can provide a better, more thorough service to your clients, prospects, and co-workers.
- Prepares your book for transfer. If you’re looking to pass your business on to a relative or associate, or if you’re looking to retire and sell your book, then having your data organized and “clean” is key. Not only does it make your book more valuable because the information is clearly displayed and easily accessible, but it will make the transfer easier on your clients. Your successor will easily be able to see your clients’ policies and your notes on them, so they’ll be able to understand your clients’ needs with more ease.
Ready to crack down on your data?
In our free eBook What is Smart Data? Using Your Data to Grow Your Insurance Agency you’ll learn more about how you can use “clean data” to transform the knowledge you have about your insurance agency. In addition, you’ll learn the difference between regular “big data” and “smart data” and how the latter will help you formulate the future of your agency.
[eBook] What is Smart Data? Using Your Data to Grow Your Insurance
Learn how you can transform your data into “smart data” that helps you achieve vital business growth.