Most businesses don't yet have organized data quality
measures and teams dedicated to verifying and removing outdated information. But once they do, they might be able to cut back on the wasted operating expenses that are caused by data quality issues, reports the American Express OPEN Forum, citing information from authors Tom Redman, Jack Olson and Larry English.
Aside from the money-saving benefits, deploying effective data quality measures can help businesses reduce the risks that can come with using expired information, the source notes. Companies that are launching direct marketing campaigns should verify contact information on their mailing lists before sending out communications to ensure they have removed any individuals who have opted out.
In an example of risk reduction, the Colorado Secretary of State recently put out a request for open records to ensure the names and birthdates on the list of registered voters correlates with legal citizens, according to The Denver Post.
Blogger Jim Harris also points out the importance of maintaining high-quality data and performing regular checks after he was notified that a recent entry for Information Management contained a misused word - "lightening" instead of "lightning." Harris explains in the post that a reader pointed out the error through Twitter not long after it was published, demonstrating how quickly social media can reveal glaring mistakes in minute details.