By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
SmartData CollectiveSmartData Collective
  • Analytics
    AnalyticsShow More
    AI analytics
    AI-Based Analytics Are Changing the Future of Credit Cards
    6 Min Read
    data overload showing data analytics
    How Does Next-Gen SIEM Prevent Data Overload For Security Analysts?
    8 Min Read
    hire a marketing agency with a background in data analytics
    5 Reasons to Hire a Marketing Agency that Knows Data Analytics
    7 Min Read
    predictive analytics for amazon pricing
    Using Predictive Analytics to Get the Best Deals on Amazon
    8 Min Read
    data science anayst
    Growing Demand for Data Science & Data Analyst Roles
    6 Min Read
  • Big Data
  • BI
  • Exclusive
  • IT
  • Marketing
  • Software
Search
© 2008-23 SmartData Collective. All Rights Reserved.
Reading: Dirty Data: Embarrassing, Expensive, Avoidable
Share
Notification Show More
Aa
SmartData CollectiveSmartData Collective
Aa
Search
  • About
  • Help
  • Privacy
Follow US
© 2008-23 SmartData Collective. All Rights Reserved.
SmartData Collective > Big Data > Data Quality > Dirty Data: Embarrassing, Expensive, Avoidable
CommentaryData Quality

Dirty Data: Embarrassing, Expensive, Avoidable

RickSherman
Last updated: 2011/03/30 at 11:48 AM
RickSherman
4 Min Read
SHARE

I recently experienced a data-quality problem first-hand while on the phone with the company that books my family a condo for our annual ski vacation. They couldn’t find my customer data, despite the fact that I had been a customer for years. Eventually, we figured out that they were searching under “Richard” but had me in their system as “Rick.”

I recently experienced a data-quality problem first-hand while on the phone with the company that books my family a condo for our annual ski vacation. They couldn’t find my customer data, despite the fact that I had been a customer for years. Eventually, we figured out that they were searching under “Richard” but had me in their system as “Rick.”

Dirty_dog Not really a big deal. This was just a minor annoyance and no revenue was lost. But when these kinds of name and address cleansing problems crop up in other instances (such as with banks), it can be much more than a hassle.

More Read

analyzing big data for its quality and value

Use this Strategic Approach to Maximize Your Data’s Value

Niche Data Tactics to Take Your Business to the Next Level
Preserving Data Quality is Critical for Leveraging Analytics with Amazon PPC
What Tools Do You Need To Manage Unstructured Data?
3 Massive Cost-Saving Benefits of Smart Data for Businesses

For the financial and retail firms I have worked with, data quality can be seen as either a glass half full or a glass half empty.  There is a heavy cost when they annoy or outright lose customers because they can’t get all their account information correct. It’s even more embarrassing to the firm when they cannot even get their customers’ names correct.

Further, the financial firm loses an opportunity to up-sell and cross-sell products or services because they don’t know who (from a financial perspective) they are talking to.

Regulatory compliance is another area where the data-quality stakes are high. Dirty data can really muddy up a company’s attempt at real-time disclosure and puts the CFO at high risk when signing off on financial reports and even press releases based on incorrect information. And the consequences for the CFO are not just an embarrassing press release or an apology — legal action is possible.  

Public companies reporting financials and those dealing directly with customers are just part of the picture. Just about any company, of any size, needs to operate as efficiently as possible. Try doing that with business data that isn’t consistent across the company! How can teams collaborate when they’re not even looking at the same information? Management meetings break down into arguments about whose number is correct rather than how to improve customer satisfaction, increase sales or improve profits. Many companies are trying to implement performance management systems but how can that happen with dirty data? It can’t…garbage in, garbage out.

Without an Enterprise Data Management (EDM) program, data-quality issues occur across an enterprise and impose serious costs.  IT and business power users often focus a lot of attention on the latest and greatest BI tools that have been bought and rolled out in an enterprise. But the greatest BI tool in the world won’t help if the data is dirty. It may not be as much fun as working with the shiniest gadget, but if you want real ROI from your IT investments, then start with implementing an EDM solution. That’s real business value.

What are some business issues you’ve seen when data quality goes awry?

RickSherman March 30, 2011
Share This Article
Facebook Twitter Pinterest LinkedIn
Share

Follow us on Facebook

Latest News

Data Ethics: Safeguarding Privacy and Ensuring Responsible Data Practices
Data Ethics: Safeguarding Privacy and Ensuring Responsible Data Practices
Best Practices Big Data Data Collection Data Management Privacy
data protection for SMEs
8 Crucial Tips to Help SMEs Guard Against Data Breaches
Data Management
How AI is Boosting the Customer Support Game
How AI is Boosting the Customer Support Game
Artificial Intelligence
AI analytics
AI-Based Analytics Are Changing the Future of Credit Cards
Analytics Artificial Intelligence Exclusive

Stay Connected

1.2k Followers Like
33.7k Followers Follow
222 Followers Pin

You Might also Like

analyzing big data for its quality and value
Big Data

Use this Strategic Approach to Maximize Your Data’s Value

6 Min Read
niche data tactics for business success
Big Data

Niche Data Tactics to Take Your Business to the Next Level

6 Min Read
data quality and role of analytics
Data Quality

Preserving Data Quality is Critical for Leveraging Analytics with Amazon PPC

8 Min Read
What Tools Do You Need To Manage Unstructured Data?
Data CollectionData QualityUnstructured Data

What Tools Do You Need To Manage Unstructured Data?

7 Min Read

SmartData Collective is one of the largest & trusted community covering technical content about Big Data, BI, Cloud, Analytics, Artificial Intelligence, IoT & more.

ai is improving the safety of cars
From Bolts to Bots: How AI Is Fortifying the Automotive Industry
Artificial Intelligence
ai in ecommerce
Artificial Intelligence for eCommerce: A Closer Look
Artificial Intelligence

Quick Link

  • About
  • Contact
  • Privacy
Follow US
© 2008-23 SmartData Collective. All Rights Reserved.
Go to mobile version
Welcome Back!

Sign in to your account

Lost your password?