Team and department structures within many corporations are increasingly made to support a data-based decision-making process. Executives and managers process vast quantities of information to refine manufacturing and ordering, improve roles and streamline tasks. The more accurate and timely the data is the better the decision-making process.Data quality
is now a cornerstone in the way organizations adapt to changing market conditions. Companies that can ensure their information is more advanced or more accurate hold the edge in capturing key areas of the market.
The coordination of information between third-party verification systems can assist an organization in running its essential tasks. For example, nonprofits rely on fundraising to achieve many of their program goals. The success of their annual campaigns depends greatly on reaching donors. By verifying addresses on their donor list they can identify old or inaccurate information, saving the organization the expense of trying to reach clients who have moved.
The impact of accurate data goes beyond direct mailing and donor campaigns. As organizations rely more heavily on spending or production statistics to make important decisions, the need for proper data governance rises. Gathering data from a number of sources can lead to duplication. Data quality programs can help align these channels of information gathering to ensure a complete coordinated list of vital statistics.