We recently released a free ebook, 4 Steps to Unlocking Latent Revenue and Driving ROI with Your Address Data, in which we show you how to use your company’s address data to unlock latent revenue and drive ROI. In our last article, we went over address parsing. Today, we’ll explain address normalization and why this matters for data cleansing and analytics. Address Normalization (or making an address look normal) is the process of formatting an address so that it matches the proper address format of the national postal authority, such as the USPS for those in the United States.
Our global economy comprises many industries—healthcare, financial services, insurance, commercial development, and more. But one thing all companies have in common, no matter the industry? They’re all chasing a bigger and better return on investment (ROI). While there are many drivers of ROI, have you ever considered the role that address validation plays? Clean address data is essential for many business functions. Consider eCommerce, one rapidly growing example. Forecasting shows this retail channel will account for 22 percent of all global retail sales by 2024.