Tailored Data Solutions increases income for charities
Tailored Data
Solutions is helping charities to increase their income through better
understanding of donor behaviour.
The company offers a range of data analysis,
cleansing and identification services which help charities get to the bottom of
their existing data and really understand what it is telling them. This supports
fundraising and marketing teams with their decision making, often leading to
income maximisation and waste reduction.
Mike Lenard Managing Director of Tailored Data Solutions said: "Our data management services have been shown to give charities measurable ROI, with increased average donation value, higher income per channel and more value extracted in the longer term.”
All charities will
have large amounts of data within the organisation. However, much of this is
likely to be on separate systems. Legacy processes and smaller budgets mean
that charities use a blend of spreadsheets, networked software and even local
documentation to keep a track of donor data. This valuable huge resource cannot
be tapped into without the right organisation, strategy and cleansing approach.
Then it can be organised to glean highly valuable insights - and to create a
new system of customer data collection that continues to mine those insights in
a cost-effective way whilst being compliant with data protection laws,
including the GDPR.
The team uses two analysis approaches; top-down
analysis involves taking some ideas and testing them for their validity and
value. Bottom-up analysis is data mining focussed and involves letting the data
speak for itself, showing statistically significant trends that can be turned
into organisational actions. The company never forces through any conclusions,
instead, presenting objective results in a comprehensive report, to which stakeholders
apply their extensive experience and know-how to glean insights and
understanding.
Data mining can also
help identify areas for improvement. This results in a twofold gain from better
data management - more income and lower costs, surplus which can then be
reinvested back into service delivery or internal development priorities or the
longer term.
Mike Lenard has been working in the charity
sector for over a decade, building up a clear understanding of the data
challenges that charities face, the potential gains that they can benefit from
when the right data management solutions are implemented.
Mike added "Our team is comprised of highly
experienced data analysts who use a mix of top-down and bottom-up analysis to
help charities identify what is working for them, and where they need to make
changes. When analysed the right way, charity data has tremendous power to help
guide management decision making."
About
Tailored Data Solutions
Tailored Data Solutions delivers data management,
cleansing and enhancing services for name and address data, with additional CRM
services and outsourced data support. The company also provides GDPR
consultancy.
Mike Lenard, MD of Tailored Data Solutions, has
a successful background in database development and maintenance as well as
secure transaction management at high-volumes. He has been working in the data
industry for 15 years with particular expertise in data hygiene and management,
DBA and campaign management and dashboard reporting.
The charity sector
Channel 4 reported that in December 2016,
167,000 registered charities were operating in England and Wales with a
combined annual income of more than £70 billion. The Civil Society Almanac
demonstrated that in the tax year 2014-14, charities spent £42 billion of their
income, with up to 70% going on service delivery or 'charitable activities'.
The next biggest costs lie in administration, governance and fundraising.
(Source: https://www.channel4.com/news/factcheck/how-much-charities-spend-good-causes.)
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