What is Data Decay?
Data Decay refers to the degradation in the quality and accuracy of data. Essentially what was once accurate data is now seen as old and low quality.
For example, the newspaper on your kitchen table from last Saturday with old and outdated news, or the tin of beans dated last month past their best!
This isn’t to say that when we collect this data it is incorrect. When coming from inbound, intent signals, up to date database sources or referrals it will be accurate. But as time progresses, data becomes outdated. It is happening right before our eyes, and much quicker than you might initially perceive, with many being blind to the implications it can have on an organisation.
A recent study by Gartner states that globally data decays at a rate of 70% per year and 3% a month – Gartner