Assess the benefits of high-quality information on an organization
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Possessing high-quality data can prove to be advantageous for your company. What exactly are the benefits of high-quality data and what can you derive from it? A recent study by The Data Warehousing Institute (TDWI) shows how high-quality data can be good for you.
While there are benefits to having high-quality data – believe it or not – most don’t really know what’s good about having clean, accurate data. According to the TDWI study, half of the respondents “haven’t studied the issue” of data-quality benefits.
The study notes that data quality is clearly driven more by liability than leverage – with more time spent studying problems rather than its benefits. But there are good things to say about having high-quality data. According to the study, the top three benefits of high-quality data identified by respondents all relate directly to data warehousing – namely greater confidence in analytic systems (76 percent), less time spent reconciling data (70 percent) and single version of the truth (69 percent).
This is to be expected, since data-quality projects have a track record of success in data warehousing. Other benefits to high-quality data are more business-driven. For instance, gains in customer satisfaction (57 percent), cost reduction (56 percent) and increased revenues (30 percent).
Here are the types of data prone to quality problems:
* Customer data 74%
* Product data 43%
* Financial data 36%
* Sales contact data 27%
* Data from ERP systems 25%
* Employee data 16%
* International data across multinational co. 12%
* Other 10%
hope it helps
pls mark as brainliest
While there are benefits to having high-quality data – believe it or not – most don’t really know what’s good about having clean, accurate data. According to the TDWI study, half of the respondents “haven’t studied the issue” of data-quality benefits.
The study notes that data quality is clearly driven more by liability than leverage – with more time spent studying problems rather than its benefits. But there are good things to say about having high-quality data. According to the study, the top three benefits of high-quality data identified by respondents all relate directly to data warehousing – namely greater confidence in analytic systems (76 percent), less time spent reconciling data (70 percent) and single version of the truth (69 percent).
This is to be expected, since data-quality projects have a track record of success in data warehousing. Other benefits to high-quality data are more business-driven. For instance, gains in customer satisfaction (57 percent), cost reduction (56 percent) and increased revenues (30 percent).
Here are the types of data prone to quality problems:
* Customer data 74%
* Product data 43%
* Financial data 36%
* Sales contact data 27%
* Data from ERP systems 25%
* Employee data 16%
* International data across multinational co. 12%
* Other 10%
hope it helps
pls mark as brainliest
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