Data quality continues to be a challenge for many organizations. A recent Experian Data Quality study found that the majority of organizations have failed to optimize their data-management strategy, resulting in poor customer insight and wasted revenue. The study also found the following:
- U.S. organizations believe that, on average, 32 percent of their data is inaccurate
- Companies that have enjoyed a significant increase in profits in the past 12 months manage their data quality in a centralized way, under a single executive
- Eighty-four percent of companies plan to invest in additional data-quality technology in the next 12 months
In addition to implementing a centralized data-quality strategy, organizations need to invest in technology and people who can implement the right structure and champion data across the business.
