The Importance of Data Quality
In a recent worldwide survey conducted by Bloor Research we found that over 80% of respondents, from both the business and IT, agreed or strongly agreed that their organisation recognised the importance of accurate business information. So, this is not a paper intended to preach to the converted. If more than four-fifths of companies know how important data quality is then the importance of data quality should need no emphasis.
In this paper we will not discuss the differences between products to prove our assertion that there is a wide variety of capability offered by the various vendors; what we will discuss is why data quality is too important to be treated as just another attribute of something else. We will do this by examining how good data quality can help you increase revenues on the one hand and decrease costs (and risks) on the other. We will also discuss data quality in terms of its use in conjunction with MDM initiatives, because the evidence suggests that the recent/current recession has significantly altered the approach that many companies are taking to MDM. In addition, we will discuss preventative data quality, data quality with respect to data governance, data quality associated with security and, finally, we will consider the benefits associated with data profiling.