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Data quality improvements can cut costs in the long-term

Rachel Wheeler

March 14, 2011

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Housing bad data can have a negative impact on a businesses' lead management systems, with the number of hours required for sales and marketing increasing and unnecessary costs mounting up.

This is according to a report by b2cmarketinginsider.com, which has highlighted the true costs poor data quality can have on a company.

When an organization acquires data the majority look only at its original cost.

The news provider claimed that investing in data quality solutions was an effective way for companies to avoid long-term problems related to housing bad data.

It noted that businesses should look to define data quality by four measures: How complete their data is, how current the data is, how accurate the information is and how consistent it is across their databases.

"While high quality data which is current, correct, consistent and complete might come with a higher sticker price, it's actually cheaper when compared to the true cost of bad data," the article said.

The comments follow claims made by Arvind Krishna, general manager of IBM's information management software division, which stated that making data quality improvements could be the difference between success and failure when it comes to business.

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