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Data quality key to business' future plans

Rachel Wheeler Archive
Data quality will be a key area of improvement for many companies in the wake of the credit crisis, new research has shown.

The importance of having clear and reliable data has been highlighted after a study, conducted by Thomson Reuters and Lepus, demonstrated the role data will play as the market recovers from the financial crisis.

It shows that 77 per cent of participants plan to increase their capital outlay on data quality projects, while 87 per cent are looking to improve their data consistency.

Robert Smith, head of research at Lepus, said: "A huge majority of firms have looked to revise their data management solutions in the wake of the credit crisis."

"The results of this survey show that firms are committed to improving data quality and consistency across the organization and are investing significantly in a bid to move closer to their ideal data management solution."

Meanwhile, writing for Data Quality Pro, Dylan Jones recently drew attention to the importance of precision and accuracy in data quality.