How Bad Data Undermines Business Results
How Bad Data Undermines Business Results
Inaccurate data inhibits a company’s ability to provide an exceptional customer experience—and something as simple as a typo can have major consequences.
Essential Information
84% of survey respondents say data serves as an integral part of a business strategy.
Working Plan
55% say their organization has a big data strategy in place to analyze large sets of data, and 33% say their company plans to introduce one within the next 12 months.
Biggest Reasons for Maintaining a High Quality Data Strategy
Increased efficiencies: 56%, Enhanced customer/user satisfaction: 41%, More informed decisions: 39%, Greater cost savings: 39%, Better protection of organization’s reputation/brand: 34%
Reporting Error
75% of survey respondents say inaccurate data undermines their ability to provide an excellent customer experience.
Most Common Data Errors
Incomplete/missing data: 60%, Outdated information: 54%, Duplicated data: 51%, Inconsistent data: 37%, Typos: 30%
Cause and Effect, Part I
56% of survey respondents say human error accounts for one of the top causes of inaccurate data, while 31% cite a lack of internal, manual resources.
Cause and Effect, Part II
28% say inadequate data strategies account for one of the top causes of inaccurate data, while 27% cite a lack of current, relevant technology capabilities.
Passive Approach
65% say their company waits until there are specific issues with data until teams address and fix them.
Planned Data Management Projects over Next 12 Months
Data cleansing: 37%. Data integration: 37%, Data migration: 31%
Expect the Unexpected
79% of survey respondents say it is difficult to predict when and where the next data challenge will emerge.