Businesses rely on collecting and analyzing data. It gives them insights into trends and customer behaviors – a crystal ball of sorts. However in this process, many have fallen short of maintaining the quality of this data. This might make one wonder how legitimate and informed those analytical insights really area. Know Techie brought this interesting information to us in their article, “Use risk mitigation in your data quality policy.”
It is important to create and implement a data quality strategy. This requires planning and investment, but offers great rewards. Data quality determines your ability to develop a risk mitigation plan.
Having questionable data will cloud your insights and affect the accuracy of future projections. Low-quality data also limits your ability to understand your risk environment. And if your business is unable to predict and respond to risks, the likelihood of disruption is high.
Quality and accurate data is the lens through which you can gain foresight into your risk environment.
Melody K. Smith
Sponsored by Access Innovations, the world leader in thesaurus, ontology, and taxonomy creation and metadata application.