Oakland Group

Poor data quality damages reputations

The Problem

Data is like money, if you keep it under the mattress it won’t increase in value, but if you use and invest it wisely it will pay dividends. Data is a key asset of any business, but only if it is used to create information, that can be turned into knowledge. Data Quality refers to using your data as efficiently and effectively as you can in helping you manage your customers, your suppliers and your business. The symptoms of poor data quality include:

The results of poor data quality include: damage to customer satisfaction and valuable reputations, inefficiency in processes, increased effort spent on managing data and in some cases a lack of regulatory compliance or data security, that could lead to fines or worse. This means that data quality is a critical business issue – rooted in people, process and technology – rather than just a responsibility that should be delegated to IT.

The Solution

We know that data quality improvement saves money and protects reputation but how do you go about Improving Data Quality Quickly and Effectively?

The diagram below outlines the main stages of Rapid Data Quality Improvement (RDQi).

Key Outcomes & Benefits

As well as increasing efficiency, reducing effort spent on managing data and improving compliance and data security, a series of specific benefits will result.

If you would like to discuss this article in more detail then contact

Rob Oakland at Oakland Consulting LLP