Businesses today rely on tremendous amounts of data to do everything from improving their customers’ experience, to streamlining operations, to reducing risk to the organization. Data is everywhere, and countless individuals interact with it throughout its life cycle. While this provides an incredible opportunity, organizations need to ensure that the quality of that data is upheld to ensure that it is fit for purpose.
Why is this important?
Data is frequently created by business users within specific departments. For instance, customer contact information is often created by a customer service representative in a call center. That information is then leveraged by sales, marketing, and finance teams to perform additional functions, such as upselling, targeted promotions, and collections. In addition, this data is usually stored by the IT department in servers or up in the cloud.
Although many users access the data for different needs, it’s up to the customer service department to determine whether or not the data is still accurate. With too many cooks in the kitchen, it’s no wonder why business users can lose sight of the data they’ve created. Due to vaguely defined data governance roles and a nebulous understanding of responsibilities for data quality, the business’s valuable customer data can quickly turn bad.
Luckily, senior leaders at organizations understand the importance of data quality.
Not so luckily, the process of putting together a proposal to make it a permanent part of the company’s data management program is often quite difficult and lengthy. That’s why we conducted a global study to understand how organizations have gone about building a business case for data quality. We looked at the challenges they faced, what stakeholders were involved, who the decision-makers were, how long it took them to implement a program, and how they monitored success. Here are five key takeaways from our report:
In our report, you can learn more about the challenges that organizations face when building a business case for data quality and tips for achieving success. We’ve also included a useful worksheet to help you begin to quantify some of the intangible consequences of bad data, and the positive business impacts of remedying it, in order to help you build a strong case. We hope that it helps you to think in a way that articulates the tangible benefits of a data quality program to your business’s leadership.
Read the report