Data Quality is eating into your Bottom-Line
Jose Almeida
?? Freelance Data Consultant/Advisor ? Data Strategy ? Data Governance ? Data Quality ? Master Data Management ?? Remote/Onsite Consulting Services in EMEA
Poor data quality has eroding properties, slowly eating away competitivity, profits and in the long run business growth.
In an environment where business processes are increasingly dependent on accurate and reliable data, the capacity to link occurring business impacts with their data related causes and the capability to act accordingly, gives organization an edge over the competition.
Newton's third law states that “For every action, there is an equal and opposite reaction”, also “For every data quality issue, there is a business impact”.
Data and business are interdependent, so a problem in data will always impact business.
These impacts may be in the form of:
1. Lost revenue, sales, or business opportunities, including:
2. Customer dissatisfaction and service costs, including:
3. Operational inefficiencies, including:
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4. Regulatory compliance, including:
5. Poor decision making, including:
In an environment where business processes are increasingly dependent on accurate and reliable data, the capacity to link occurring business impacts with their data related causes and the capability to act accordingly, gives the organization an edge over the competition.
www.josealmeidadc.com