Data migration is an extremely common, business-critical task. So it may come as a surprise to learn how many companies experience considerable challenges when executing such projects. A recent study commissioned by Experian Data Quality* showed that 9 out of ten businesses engage in data migration projects and as many as 85% experience significant problems managing them.
*As featured by Computing
With data moving higher up the business agenda we’re seeing pressure mounting on those responsible to deliver on its demands. As a result, a number of challenges have emerged for both Chief Information Officers (CIO) and Chief Data Officers (CDO) alike, caused by a lack of suitable technology that’s ultimately having a time and cost impact on resources, their ability to support each other and deliver on data strategy.
*As featured by Information Age - insights and analysis for IT leaders
According to recent research, organisations that proactively manage data as an asset with a joined up approach to data quality, are the ones that reap its full strategic value. Furthermore, although 93% say they are actively trying to find and resolve data quality issues, they also feel that a massive 23% of revenue is still being wasted due to poor quality data.
The good news is that I believe technology can provide a solution, helping organisations achieve better results, quicker, thanks to learning from the experiences in other areas of Information Management.
Now more than ever, we’re seeing organisations becoming more aware of data as a strategic asset. So it’s with great pleasure that I’m able to announce the launch of our new website www.edq.com/uk – a best-in-class ‘destination’ that aims to meet the growing needs of anyone looking for data quality information and solutions that will help them to better utilise and understand their data.
According to the latest Experian Data Quality Global Research, almost 63% of organisations lack a coherent, centralised approach to data quality. When looking at the numbers behind the research, more than half (51%) say individual departments still adopt their own strategy, and while 92% of businesses surveyed still find data quality challenging, this clearly points to a lack of a consistent and centralised approach as one of the problems. It is not just about having a data quality strategy in place; it’s about doing it in a streamlined, consistent and efficient manner that creates the more mature data quality organisation.
In my previous blog, I talked about Experian's brand new Data Quality Improvement Assessment, why we developed it and how we hope organisations will benefit from using it. The assessment gauges an organisation's data quality strategy maturity and plots the results on our data quality maturity curve as well as offering useful reading and advice.
In my last blog, I gave some background to Experian's brand new Data Quality Maturity Assessment around why we developed it and what we hope organisations will get out of it. The assessment plots an organisations data quality strategy on a graph, meaning they can benchmark themselves on how sophisticated their data quality strategy is.
In the last few years, businesses across the UK have come to realise that data management has become a mission-critical concern, regardless the sector in which they operate. Indeed, as more and more business functions go digital and online revenues continue to grow, it is clear that data quality management is becoming more important than ever before.
To shed light on this trend, we recently published our annual Global Data Quality Research discussion paper for 2015, which highlighted a number of the key trends that are guiding current efforts to extract the greatest value from business data.
UK businesses are starting to recognise the true strategic value of data as a competitive differentiator and customer experience enhancer; which in turn is increasing the potential value of data as a source of revenue. In fact, 90% of CIOs believe data is changing the way their organisations do business.
At this point you have probably heard about big data a million times. It's a bit of a meme and a marketing term, it won’t probably predict wars before they happen, I personally doubt that it will cure cancer, and I’m not sure if Netflix really needed big data to create their hit House of Cards. Although I have to admit. Kevin Spacey was pretty good.