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Businesses lacking monetary measurements for poor data

Rachel Wheeler Archive
A significant proportion of large businesses around the world have implemented data quality programs to improve the accuracy and reliability of their data.

According to a study conducted by Research and Markets, 80 per cent of organizations are currently measuring their data quality.

The figure is a leap forward from the research firm's 2008 study which found that only 58 per cent of businesses were measuring the quality of their data.

However, of those questioned, 68 per cent revealed that they had no monetary measurements for the cost to the business directly attributable to poor data.

The news comes just after a recent study sponsored by SAP Sybase found that good data quality has significant financial benefits for businesses

Indeed, the study suggested that just a ten per cent improvement in areas, including data quality, can translate to a significant boost to finances.

Earlier this month, an Experian QAS survey revealed that 84 per cent of organisations are planning or considering an investment in data quality within the next year, Information Management reported.

Posted by Richard Jones