Companies which implement strategic data management solutions will hold a competitive advantage in their sector, according to the Economist Intelligence Unit (EIU).
A survey by the EIU shows that just 18 per cent of the 586 senior executives polled believe their firm is committed to the collection and careful analysis of data via a well-defined plan.
However, of those that do have such plans in place, 64 per cent put nearly all the information gathered to good use.
Furthermore, 53 per cent of those with a strategic data management plan said their company financial results were better than the competition, compared to just 36 per cent of those without a strategy saying the same.
Writing in a guest blog for the Drum, data quality expert Kiran Gill recently warned that database maintenance is just as important as data gathering for firms looking for useable, accurate information.
Posted by Richard Jones