The rapid expansion of information, deployment of mobile strategies and use of social solutions in the private sector are introducing the same data quality concerns that companies faced last year. Despite the proliferation of advanced master data management solutions, organizations will likely continue to experience challenges associated with the accuracy and completeness of their resources, according to a recent report by Information Management.
Enterprises around the world continue to try to maintain big data resources through the use of innovative solutions to improve marketing and other initiatives. Unfortunately, firms often encounter problems because of the rapidly growing number of users accessing an ever-increasing array of varying assets, the news source said.
The importance of master data quality was also highlighted in a study by the Aberdeen Group.
"When [master data] is accurate, consistent and up-to-date, organizations have better visibility into internal operations, interactions with their business partners, and the behavior of their customers," said Nathaniel Rowe, research analyst at the Aberdeen Group. "When it is missing, incorrect or hard to find, organizations experience inefficiencies, delays, errors, and poor business decisions."
Companies need to be sure they plan big data projects well in advance so they can use the appropriate tools to minimize errors and ensure long-term success.