Organizations looking to control procurement costs, manage supplier risk and raise the quality of their goods and services have been advised to implement data quality software solutions.
This is according to a recent report from TDWI, which states that as businesses begin to modernize they are also improving their information management systems.
In particular, the study suggests that product-oriented industries, such as manufacturing and retail, will benefit from product data quality improvements.
The organization points out the most pressing requirements for improving the quality of product data.
It recommends that businesses support product data's diverse and complex standards, enhance product data with additional information and increase the analytic effectiveness of product data, Information Management reports.
"Properly processed product data will support analytics and reporting for material identification, spend analytics, complete views, supplier ranking and more," the news provider cites the study as saying.
A recent article by Search Data Management highlighted the need for businesses to invest time and money into data quality initiatives to improve services.
Posted by Paul Newman