UDEX, the world's leading provider of product data quality (PDQ) software and services, and Ventana Research, the leading performance management research and advisory services firm, announced the findings from a report detailing the consequences of poor data quality for retailers and manufacturers. The report, titled "Utilizing Bad Product Data - A Recipe for Disaster," specifically points out that initiatives such as global data synchronization (GDS) and radio frequency identification (RFID) will fail if product data quality is not addressed.
The Ventana Research report shows that many companies incorrectly believe they can eliminate product data quality issues by implementing GDS. This misperception is clearly contradicted by a data quality survey conducted by UDEX. UDEX analyzed a massive sample of 3.8 million attributes from 91,000 new and changed products processed between April 2005 and March 2006. Much of this data was received from the global data synchronization network (GDSN) and had already passed the GDSN validation checks. The company discovered that close to two-thirds (63%) of the items required correction. More than half of the consumer items and more than one-third of traded items contained incorrect data. In addition, the Ventana report states that as the adoption of GDS extends, especially with the introduction of RFID, the volume of data errors will become so great that the entire GDS system will fail.
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