Becoming a data-driven company. It is something many of us want to achieve today because it elicits thoughts of ultimate insight. One rarely thinks of data as being sexy, but the concept of being able to use data to accurately predict your company’s next move is pretty cool.
The race is on. Companies are working as quickly as possible to leverage their data assets to drive action and derive value. Terms like big data are common and the c-suite has a desire to pinpoint insight in these mass stores of data.
To make best use of your data asset across your organization, it is essential to have a solid data quality framework to ensure that your data is accurate and complete. But all data quality management models are not created equal: different organizations have different levels of data quality maturity, depending on organizational priorities and needs.
When your organization decides to start leveraging its data as an asset, the first thing you should do is build a data quality team. This team of people will be responsible for the quality of the data and the support of data quality activities and initiatives company-wide.
A lot of people traditionally think of data quality as a technical person’s concern. In reality, business users have a major part to play on the data quality team. We have seen many organizations start to understand the need for centralized data ownership with the rise of the Chief Data Officer (CDO). One of the first things that should be on a new CDOs agenda is building out a team of individuals that can help elevate data management and data quality on the corporate agenda.
Big data is something many of us talk about and use to become a data-driven organization. Data is being used today for many different key initiatives, especially around operational efficiency, product development and customer experience.