Every corporate decision and operation relies in part on the underlying data. In fact, high quality data is as much an asset to the organization as a hard-working employee. It’s time for businesses to recognize that data quality isn’t a place to cut corners. In fact, by taking a page out of the health care book and performing good preventive maintenance on data as well as quick treatment when data quality issues arise, data quality will be better and productivity will increase.
Many factors contribute to why companies struggle to properly manage their data. According to Gartner Research, the volume of enterprise data doubles every 18 months. If a data governance process is not in place, this volume of data quickly becomes unmanageable. Complicating matters are issues with inaccurate, duplicate or out-of-date data. Without stringent quality measures, organizations could be basing critical business decisions on flawed or inaccurate data. After all, analysis of your customer data is only as good as the quality of the data you’re working with.
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