There's no doubt that when compiling massive clusters of data to analyze in an effort to gain greater wisdom about their industries, companies must emphasize accuracy. There's no substitute for superior data quality - if corporations use address management tools to ensure that their information is updated and verified, they can proceed with confidence toward decisions based on solid business intelligence.
With some varieties of social data, there's a big problem to look out for - data can be fleeting, and companies have no way of retaining control of it.
Information Week raises a question in response to the data quality movement. Has all the emphasis on accuracy gone too far? Is it possible that data quality has become overrated?
By gathering information on individuals and using software tools to verify its accuracy, firms of all kinds can glean valuable insights from big data. But perhaps nowhere is data quality more applicable than in healthcare, where it has the potential to save lives.
Jim Harris of the OCDQ Blog writes that in addition to data scientists who are able to quickly process and find trends in information, its also important to have data philosophers, critical thinkers who are able to find true meaning in big data, finding lessons that companies can really act upon.
Data quality isnt the only concern. According to Information Management, theres another equally important value for companies to consider when working with large volumes of information: data velocity.
Compiling accurate data on consumers is a valuable pursuit that will help marketers improve their sales numbers, both immediately and in the years ahead. The effects of data quality are far-reaching.
Mining data on individuals can have a profound effect for companies in all sectors. Whether in retail, marketing, finance or any one of countless other industries, it can be enormously beneficial to compile information on potential customers and use it to find optimized business solutions.
The healthcare industry is working to develop specific, individualized methods of treating patients with various ailments. Its slow going for many firms - the health conditions out there are seemingly infinite, and its nearly impossible to find remedies for them all. According to The Boston Globe, though, data quality is one factor that can help the industry develop better solutions for a healthier world.
Data quality is an important driving force behind marketers technology use. If they arent able to use address management solutions to ensure that consumers mailing addresses, emails and phone numbers are recorded accurately, then they wont be able to effectively measure the efficacy of their promotional efforts. They also wont be able to prevent fraud.