Businesses are adopting big data at an accelerating pace in order to benefit from its ability to harness vast amounts of information and use it to generate unforeseen insights. That's the promise, but it might not be the outcome if companies and their analysts do not use data quality best practices, according to MarketingWeek. Bad data is a problem that's impacting marketing firms, financial institutions, retail businesses and other big data adopters.
And data quality is becoming a bigger issue for firms, according to a study by Experian QAS. A survey found that organizations have become less vigilant about their data quality, with only 40 percent reporting they use back-office cleansing programs.
This is a trend that has occurred in parallel to the rise of big data as a mainstream technology, MarketingWeek suggests.
The popularity of advanced business intelligence is increasing, but so are the risks of using incorrect, inaccurate or incomplete data, according to The Globe and Mail. Many companies are leveraging big data for predictive analytics, but those forecasts are often wrong. If users aren't checking data quality, they might be filling their pipelines with vast amounts of content that might be crowding out helpful information rather than contributing to it.