Data Quality & Corporate Success go hand in hand

Organizations, more than ever, rely on business intelligence systems to make key decisions. There is a huge emphasis on creating applications that can improve organizational productivity and efficiency and generate customer loyalty, for example, Enterprise Resource Planning (ERP), Customer Relationship Management (CRM), Supply Chain Management (CRM), and Business Intelligence (BI). 

Companies invest huge amounts of money on these technologies to ensure streamlined business processes. However these systems can only reach its potential if they work on valid data.  Inaccurate data can make the whole system ineffective and impact the decision process as well.  

Decision makers who formulate business plans and strategies based on analysis derived from these enterprise applications are at risk unless a data quality program can ensure data validity at the most basic level. Decisions based on faulty data can cause direct financial loss, undermine customer loyalty, and damage an organization’s credibility. Data quality experts estimate that bad data can cost a business as much as 10 to 20 percent of its total system implementation budgets.

Any business improves efficiency and reduces risk exposure through quality data. After all, the information applications that run the business run on data themselves.

Do not make the mistake of underestimating data.