Incidents of data theft are on the rise, as are the costs associated with them. A 2012 survey conducted by the National Cyber Security Alliance and McAfee found that one in four Americans had been officially notified that key elements of their personal information had been lost. With the recent announcements of data theft and hacking at Target, Neiman Marcus, and Adobe, the former two being propagated by a teenager, this is a topic we will be hearing about a lot more.
For organizations that rely heavily on banks of consumer data - ranging from retail companies that keep tabs on their customers to government offices that provide essential public services - there's a need for high-quality data.
While companies have made great strides in recent years in information mining, collecting more information about their customers and the economy at large than ever before, they still have plenty of work to do in terms of data quality.