How a Lack of Data Quality Hurts Business

 
 
By Dennis McCafferty  |  Posted 03-20-2017 Email
 
 
 
 
 
 
 
 
 
 

Only a minority of IT and business professionals said they trust their organization's data to make key business decisions, according to a recent survey from Experian Data Quality. The accompanying "2017 Global Data Management Benchmark Report" reveals that most survey respondents said they're forced to rely on "gut feelings" to make important decisions about data. Data quality remains critical here, but relatively few organizations take a proactive approach to address this need, much less achieve optimized results. It doesn't help that few companies have completely centralized data quality control through a single director. To address these issues—and boost sales and customer loyalty in the process—organizations are starting to hire chief data officers and take on major data cleansing projects. "As organizations strive to call themselves 'data driven,' the need for increased governance and data management practices will become even more important," according to the report. "At the forefront of priorities this year, increasing revenue and better serving customers emerge as the two key areas where data will play a major role. To achieve these aims, establishing a foundational level of trust in this data will be a necessary prerequisite." An estimated 1,400 data management professionals and managers took part in the research.

 
 
 
 
 
Dennis McCafferty is a freelance writer for Baseline Magazine.

 
 
 
 
 
 

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