There is a growing cross-industry recognition of the value of high-quality data. Numerous reports issued over the past two and a half years indicate that information quality is rapidly increasing in visibility and importance among senior managers. According to the 2001 PricewaterhouseCoopers Global Data Management Survey, 75 percent of the senior executives reported significant problems as a result of defective data. In 2002, The Data Warehousing Institute published its Report on Data Quality in which they estimated that the cost of poor data quality to U.S. businesses exceeds $600 billion each year.
Not only that, two critical pieces of legislation passed within the past few years impose strict information quality requirements on both public corporations in the U.S. (the Sarbanes-Oxley Act of 2002) as well as U.S. federal agencies (The Data Quality Act of 2001). Both of these laws require organizations to provide auditable details as to the levels of their information quality.
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