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Data quality failures 'cost US $3.1tn a year'

Rachel Wheeler Archive
Poor data quality costs the US economy around $3.1 trillion a year, according to a new study.

Research from consultancy firm Artemis Ventures says that dirty data is a problem of "astonishing" proportions, as the losses it causes amount to double the size of the Federal deficit.

Yet according to data and integration expert Hollis Tibbetts, principal analyst and managing director at Artemis Ventures, it continues to go unnoticed, creating a drag on the economy and preventing growth.

"In survey after survey, about half of IT executives consistently agree that data quality and data consistency is one of the biggest roadblocks to them getting full value from their data, yet consistently organizations fail to address this issue," Mr Tibbetts added.

Technology research firm Gartner recently suggested that data quality is essential for ensuring supply chain efficiency.

Posted by Richard Jones