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Data quality important for decision making

Paul Newman Archive

While effective leaders are often defined by a number of characteristics, the ability to capture information and use it to their firm's advantage is among the most important. Because consumerization trends have introduced new complexities associated with digital resources, leveraging data quality tools to ensure accuracy will be crucial.

A Smart Business Network Online report highlighted the importance of making good business choices using big data.

"Although beliefs and instincts help executives make expedient decisions, they aren't always good decisions," said Chongqi Wu, assistant professor of management for the College of Business and Economics at California State University, according to SBN Online. "Business leaders become better decision-makers when they take advantage of the facts derived from data analysis."

Information Management said the nature of big data doesn't provide companies the ability to implement traditional data quality practices. For this reason, executives need to define quality standards through profiling initiatives, which often align better with most big data projects.

By planning ahead, organizations of all sizes can embrace big data and ensure the information they collect is accurate and consistent, allowing for a stronger and more resilient decision-making process.