Why Many Organizations Don't Trust Their Data

By Dennis McCafferty  |  Posted 12-16-2016 Email

Despite all of the talk about the potential of data and analytics (D&A), most of the professionals who work closely in these areas are not confident in the integrity and reliability of the resulting insights, according to a recent survey commissioned by KPMG International and conducted by Forrester Consulting. The accompanying report, "Building Trust in Analytics," indicates that very few survey respondents think their company excels in the management of D&A quality. Such shortcomings impact the information needed for customer research, business operations and even risk and security management. It doesn't help that relatively few data professionals sense that their company's C-level executives fully support their efforts, nor do they feel that employees overall are taking advantage of D&A to effectively complete tasks and make decisions. What's needed is a fully integrated, constantly strengthening effort to ensure that D&A initiatives produce accurate results, and that these results directly support intended business areas. "Trust is not a project," according to the report. "Strengthening the anchors of trust is not a one-time exercise or a compliance tick-box. It is a continuous endeavor that should span your entire enterprise. From the sourcing and preparation of data through to the outcomes and measurement of value, building trust in analytics requires executives to look across their D&A lifecycle, from data through to insights and ultimately to generating value." A total of 2,165 global decision-makers responsible for setting strategy and/or managing data-related initiatives took part in the research.

Dennis McCafferty is a freelance writer for Baseline Magazine.


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