Recently in data quality Category

5 Ecommerce Issues You Forgot--And How to Fix Them

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Want to increase conversions, provide customers with a better shopping experience, and cut down on cart abandonment? Check out these five ecommerce issues you probably forgot and how to fix them to solve these problems and more.

1. The Fat Finger Syndrome

Customers are terrible at typing--especially when it comes to filling out incredibly small contact forms on their smartphones. The fat finger syndrome accounts for many name misspellings, incorrect addresses, email bouncebacks, and invalid order submissions. To take the burden off the customer, try implementing a real-time autocomplete solution. By automatically showing verified addresses and emails as the customer types, you'll help alleviate fat finger syndrome and cut down on form abandonment.

 

2. International Postal Standards Vary

Did you know that in Japan, the last name goes first on shipping labels? And in Canada, the postal codes consist of letters and numbers arranged in a specific way? Those are just two examples of how address standardization can differ from country to country. So, if you're planning to go international, be mindful of varying postal requirements and make sure you have an address verification solution that can verify, standardize, format and transliterate. Solutions like Melissa's Global Address Verification do all of this and more--like adding precise lat/long coordinates to addresses for 40+ countries.

 

3. Upfront Shipping Matters

Amazon has shown the way towards better conversions, more sales, and cost-effective shipping with upfront shipping costs and delivery dates shown at every step of the order process. Now, you can, too! With Decimal, a comprehensive shipping rates manager and delivery dates predictor, you can provide your customers with calculations for shipping while they shop, without interrupting their purchase. That means more customers hitting Submit Order without delay.

 

4. Clean Data Affects Everything

Are you sure you're only storing accurate customer data? The data you collect directly on your site, via call-in orders, through internal systems, and mobile all need to match to show accurate customer records in order to better know your customers, increase upsell opportunities, and provide good customer service. By cleaning data before it enters your database and maintaining it after, you can ensure that every customer's name, address, phone, and email are accurate and verified.

 

5. Fraud Costs More than Lost Sales

Let's look at some stats--every year, businesses lose $3.5 trillion in revenue to financial crimes, and 15.4 million consumers were victims of identity theft in 2016 alone. Don't let fraud and chargeback costs steal your bottom line. Instead, use an ID verification solution like Personator®, which combs through 2.1 billion records to match name-to-address and verify that every customer is exactly who they say they are.

 

How to Know Customers Are Who They Say They Are

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In 2015 alone, 62% of companies were targets of payment fraud. As customers increasingly conduct their financial affairs online and via mobile devices, risk management and fraud prevention become more and more difficult. So, how do you know customers are who they say they are?

Short of reaching through the computer, tablet, or smartphone screen and verifying a customer with your own eyes, there are a plethora of ways that help you better know your customer, manage risk, and even prevent fraudulent transactions.

Age & National ID Verification

The first step to customer authentication is to match a customer's national ID (for example, their social security or driver's license numbers) and date of birth. Better authenticate a customer's ID documents and simplify compliance with any age restrictions or purchase laws, while improving customer service at the same time. Instantly verify that the customer purchasing your age-restricted goods is old enough to legally make that purchase.

Name-Address Matching

The second step is to match name to address to confirm the person buying your product or service isn't giving you false information. Personator leverages a comprehensive dataset containing billions of records to confirm and match current names and addresses with the highest degree of accuracy. Our powerful, real-time tools and services help you achieve entity resolution and compliance, as well as better know your customer and reduce, or even eliminate, the need for manual review.

Address Correction & Formatting

Next, you'll want to add in what's missing from customer data entry, legacy systems, sales input, and anywhere else your records come from. Add missing street suffixes, state/province/administrative area info, and standardize addresses to specific country formats using Advanced Address Correction (AAC) to verify that addresses are accurate and deliverable to real locations.

Contact Data Validation

Validation concerns more than just a name or address - it needs to look at all aspects of people data, from names and addresses to phone numbers, email addresses, geocodes, IP locations, demographics, and more. Determine that the given postal address for every customer is deliverable, the email address exists, the name associated with a mobile device and whether the phone number is active and callable, and the given name is in a valid format. You can even trace customers with geocodes and IP locators to manage risk and ensure compliance.

Melissa's Personator® World Edition can help meet all of these needs. Personator is a customizable web service that fits all your ID verification process and risk management requirements. It can help optimize onboarding and fraud detection in Ecommerce, AML Compliance, Customer Due Diligence, Card Not Present, Know Your Customer (KYC), and FinTech/RegTech arenas.

Try Personator free for 30 days to see how it can transform your business's safety and compliance.

Melissa provides numerous APIs to handle the standardization, cleansing and verification of various data elements such as addresses, names, phones and emails. Often times we get asked by our customers as to what are some ways to improve the speed when processing records using our APIs. Below are some performance tips to consider when implementing our APIs:

 

Storage

The type of medium where the data files are stored may have an impact on processing speed. We recommend the use of solid state drives to store our data files as they have faster seek & read times compared to spinning disk drives.


We have also sometimes seen clients store the data files on a network share which we definitely don't recommend. Typically, trying to access the files over a network introduces latency which impacts the processing speed when blocks of data need to be fetched quickly. Data files, therefore, should often be stored locally on the machine.

 

Memory

The amount of memory available and speed can also affect processing. While using the APIs, once data is read from the hard drive, the data is cached and stored temporarily into memory in case the data needs to be accessed again shortly.

 

A simple example below, we have a list of phone numbers that were verified using our Phone Object API along with the times in milliseconds indicating the amount of time to verify the phone number.

 

When the Phone Object API encounters a phone number in a new area code, there are spikes in the verify times as the Phone Object now has to go back and fetch a new block from the data files stored on a hard disk and cache it into memory. The more memory available on the system, the more that can be cached into memory as the API reads more blocks from the data files on the disk. And, as discussed in the previous section, having a faster hard drive will help keep those disk read times low when those data file reads occur.


tips-phone.png

Multi-threading

Processors with more than a single core are now common these days. If multiple cores are available on the system, we highly recommend that developers take advantage of that. When multithreading with our APIs, we suggest having each thread contain its own object instantiation for our APIs. 


For example, if you have 8 cores, you may want to create 8 threads with our API instantiated 8 times: once per each thread. Ideally, you would want to create a pool of threads that have our API instantiated already, and therefore ready for processing. If you keep reinitializing/instantiating our API, that will introduce some overhead in the processing.

 

The graph and table below shows some multithreaded testing of our own with our Global Address Object® API with UK addresses and, as shown, there as substantial speed increases that can be obtained through multithreading:


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The last major update to the Business Coder Web Service includes the addition of employee contacts for the entered business, allowing for the retrieval of employee names and their respective titles. The next major update to Business Coder will feature an upgrade to the employee contact list returned. Aside from the name and title, contacts will now also give back both their email address and phone number if available. 


This is what the contacts array used to return, versus what it returns with the latest update:


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Make sure to take advantage of these new fields in the next Business Coder update in order to enrich and improve your business contact information. Leveraging additional contact information will certainly allow for new opportunities with business prospects and allow for better marketing segmentation.

 

Try our Business Coder API now.

Melissa's Improvements in Dynamics CRM

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Dirty data, in all forms, is bad for business. Here at Melissa, our primary concern is cleansing it from all of your platforms, including Microsoft Dynamics® CRM. Melissa currently offers many solutions for Dynamics CRM in order to combat problems with bad data.

 

We offer the Personator® solution in order to cleanse and enrich your U.S. and Canadian data. We offer the Global Verify solution to correct and verify your addresses, phone numbers, names, and email addresses on an international level. Soon, we will release the Express Entry® solution in order to prevent bad data from entering your environment. As we strive to offer you the best solutions, Melissa constantly seeks to improve its solutions to better suit your needs.

 

Coming in a future update, we will offer the following new features to our Express Entry service:


•          Personator Workflows

•          Reverse Lookup for Express Entry

•          Express Entry Integration into Global Verify

Personator Workflows

Dynamics CRM is utilized in many different ways in the business world. The creation of contact, account, and lead records is handled through many different environments that may not leverage the standard form. In addition, sometimes users may forget to use our services to cleanse and correct information before saving and storing a record. 


To address these issues, we have created workflows for the Personator solution for the currently supported out-of-box entities. These workflows can be activated to leverage our Personator service on records automatically, such as upon creation of a new record. This will allow users to create records from a different environment, such as a separate portal, to have their information automatically validated through our workflows.

 

Reverse Lookups for Express Entry

Different users enter address information in different orders. With Dynamics CRM's ability to customize forms, it is apparent that not everyone will start by entering a street address. With our new feature, Reverse Lookups, users can enter information starting from the most general piece of information down to the most specific. For example, now a user, after entering his or her default country, can begin by entering the postal code to determine the city and state of the particular record. After filling out these fields, the user can then enter in the street address and select from a list of addresses only in that particular city, state, and postal code.

 

Express Entry Integration into Global Verify

Many customers require different methods of verification. In order to address these concerns, we have integrated our Express Entry service into our Global Verify solution. Now, you can utilize the Express Entry service to autocomplete addresses when entering data as well as verify phone and email with the click of a button.

Get in the Contact Zone

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If you're looking for that perfect all-in-one solution that combines the power of easy integration and Melissa's full spectrum of data quality solutions, then you need to get in the Zone - The Contact Zone®.

Contact Zone employs all the customer data management tools you'll need to help provide consistent, trusted, accurate data across the enterprise - all in one single platform for effortless integration. 

Plus, it's powered by Pentaho® Data Integration (PDI), which gives Contact Zone a simple, graphical user interface, dynamic templates, administrative features, and so much more. Collect data from any source, cleanse and transform it, and gain immediate insight for meaningful use.


Record Matching Made Easy with MatchUp Web Service

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MatchUp®, Melissa's solution to identify and eliminate duplicate records, is now available as a web service for batch processes, fulfilling one of most frequent requests from our customers - accurate database matching without maintaining and linking to libraries, or shelling out to the necessary locally-hosted data files.


Now you can integrate MatchUp into any aspect of your network that can communicate with our secure servers using common protocols like XML, JSON, REST or SOAP.

 

Select a predefined matching strategy, map the table input columns necessary to identify matches to the respective request elements, and submit the records for processing. Duplicate rows can be identified by a combination of NAME, ADDRESS, COMPANY, PHONE and/or EMAIL.

 

Our select list of matching strategies removes the complexity of configuring rules, while still applying our fast and versatile fuzzy matching algorithms and extensive datatype-specific knowledge base, ensuring the tough-to-identify duplicates will be flagged by MatchUp. 


The output response returned by the service can be used to update a database or create a unique marketing list by evaluating each record's result codes, group identifier and group count, and using the record's unique identifier to link back the original database record.

 

Since Melissa's servers do the processing, there are no key files - the temporary sorting files - to manage, freeing up valuable hardware resources on your local server.

 

Customers can access the MatchUp Web Service license by obtaining a valid license from our sales team and selecting the endpoint compatible to your development platform and necessary request structures here.

Fintech breakthroughs that identify,validate and augment customer data help financial services organizations head off fraud, operate within the rules


One of the most pressing issues facing the financial services industry today is the prevailing emphasis on security and fraud prevention. Big data and analytics are leveraging the power of the Internet, but also offering big, juicy plums for hackers, credit card fraudsters, money launderers and terrorists.

 

In response, many countries including the U.S. have established Know Your Customer (KYC) requirements, intended to guide financial institutions in heading off fraudulent transactions. A key way for banks to do this is to clearly Identify legitimate banking clients and their business relationships so the bad operators become more obvious and identifiable.

 

But it can be a challenge. Legitimate customers often have multiple banking relationships with a single institution, with identifying information stored in different formats in a multitude of databases. Various family members also may be account owners, but have different names and live at different addresses, possibly even in different countries.

 

Linking all these threads together while at the same time correcting name misspellings, standardizing mailing address formats, and parsing precise geolocation IDs can be the stuff of banking compliance nightmares.

 

Not doing this due diligence, however, can be catastrophic. To be hacked and have millions syphoned out of your customers' accounts is one thing, but to have the government ready and willing to fine you for failing various KYC tests can be just as damaging. Can you say "Loss of reputation and customers?"  

 

A WORLDWIDE PROBLEM


Most notably non-compliant of late have been banks based or doing business in India, but it's a worldwide problem. A New York-based broker-dealer recently was charged with KYC violations and for negligently allowing illegal trading by one of its customers. Perhaps the highest profile case most recently was Morgan Stanley Smith Barney running afoul of a variety of KYC violations. The main charge: Morgan Stanley failed to properly identify an assortment of "red flags" that signaled illegal activity.

 

Thankfully, technological breakthroughs increasingly are offering their own solutions. Just as the digital world has enabled bad players and victimized banks worldwide, technology is fighting back with sophisticated Know Your Customer tools.

 

A big step forward is the ability to accurately verify names and addresses. In a global world without borders, technology that verifies, cleans, completes and standardizes names, addresses, phone numbers and emails, and does so globally, immensely aids the process of knowing one's customers.

 

Technologies also exist that adds in missing contact fields, finds census and area-specific statistical details, and provides precise demographic information. When banks are able to combine census and area-specific details with accurate names and addresses, they'll know pretty closely if a variant player is really a customer or a bad guy.

 

KYC guidelines are very specific about risky areas prone to scams and schemes. A wide variety of countries are identified by the U.S. State Department for being prone to ignoring money laundering, tolerating suspicious transactions, and generally lacking adequate know-your-customer requirements. Ignoring this, in fact, was one of the issues that burned Morgan Stanley, permitting criminal activities to continue unchecked.

 

While IP lookup that identifies exactly where a digital communication has come from has been around for a while, new geocoding breakthroughs are able to convert IP addresses into precise latitude and longitude coordinates around the world. Most European and international identify cards also can be verified, along with mobile phone numbers and driver's license information.

 

One of the essential elements in all this is updating customer data. It's been estimated that accurate contact information deteriorates severely and regularly, and good customers who merely move across town can confuse inadequate screening processes and raise red flags (false positives) when it shouldn't. Today there are a variety of modules banks can use to update customer information quickly and accurately.

 

The bottom line is this: Financial services institutions now have lots of new reasons to love fintech technology that mitigates KYC concerns by identifying legitimate customers, and flagging the ne'er-do-wells before they can be effective.




Meet Melissa: Global Intelligence

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Melissa Data is officially now Melissa.

 

As we welcome our 32nd year in business, we are excited to announce an important change at Melissa Data. We've decided to drop the "Data" from our brand identity. We are simply Melissa now. This is part of a new branding effort to reflect Melissa's growth, and more importantly, the changes in the data quality space. While authoritative data sources power our products and services, we want to continue developing new solutions that deliver data-driven results for better business intelligence.

 

This forward thinking change is reflected in our new logo with the design emphasis on the "i" for intelligence. You will see this focus on intelligence in our new ID verification services, our industry-specific solutions to help with Know Your Customer initiatives, risk management and compliance, and in our robust customer data management and data integrations platforms.

And, you'll see it in our new website at www.melissa.com. 


Our goal with this new website is to provide our visitors an easier way to learn about Melissa's services and solutions. Immediately, you will notice streamlined menus, simple navigation, and quick access to the information you need.

 

We look forward to working together with all of our existing customers on more opportunities and better solutions for global intelligence. Please feel free to reach out and let us know how we can better assist you.

Better Marketing Starts with Better Data

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Improve Data Quality for More Accurate Analysis with Alteryx and Melissa

 

Organizations are under more pressure than ever to gain accurate contact data for their customers. When your consumer base ranges from Los Angeles to Tokyo, it can be challenging. Poor data quality has a critical impact on both the financial stability as well as the operations of a business. Verifying and maintaining vast quantities of accurate contact data is often inefficient and falls short of the mark. According to IBM, the yearly cost of poor data quality is estimated at 3.1 trillion in the U.S. alone.

 

Melissa's Global Address Verification and Predictive Analysis for Alteryx are the tools your business needs to grow. Download this whitepaper to find out how to achieve marketing success, while reducing the cost of doing business overall.

 

Learn how to:

  • ·         Better understand and utilize your big data for marketing success
  • ·         Build better relationships with customers with clean data
  • ·         Target the customers most likely to buy
  • ·         Cut down on undeliverable mail and save on costs

 

Download free whitepaper now:

http://www.melissa.com/resources/whitepapers/alteryx-better-marketing-data.html

 

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