Issues relating to data quality are easy to spot but difficult to remedy, it has been claimed.
That is the opinion of Lance Mercereau, director of marketing and public relations at Rosslyn Analytics, who believes that traditionally companies tended to focus on top-line data and ignore their bottom-line spend.
"One can clearly identify [the cause], but addressing it is something else," he added.
"If you have got a process or a system in place that one - identifies it easily, but two - monitors who is actually putting the erroneous data into the system, then I think management is in a better position to remedy that."
Research conducted by the company shows that almost a third of industry professionals had a low level of confidence that their organizations spend data is complete and accurate for decision making purposes.
The sooner data quality concerns were addressed the quicker businesses will be able to focus on implementing cost-saving procedures, Rosslyn Analytics said.
Posted by Richard Jones