The most popular and comprehensive Open Source ECM platform
Let us know more
Big Data: Data Quality Trumps Size of Data Sets
Big Data has the potential to provide enormous insight. But the usefulness and accuracy of Big Data depends almost entirely on the quality of the data sets that are used.
A recent report from the American Institute of CPAs (AICPA) found that 80 percent of executives said that they’re not able to make good decisions because the data sets that they’re using to base those decisions on are frequently flawed. Only 32 percent of organizations say that they’ve been able to consistently deliver up-to-date and relevant information and analysis to their business decision makers.
The report identifies some of the problems that business decision makers need to contend with:
Information Overload – 64 percent of organizations claim that they have way too much information, and surprisingly, 32 percent said that applying Big Data has only made the problem worse.
Trust and Collaboration – 43 percent of executives don’t trust their executive colleagues and say that they collaboration among executives is poor.
Incentive Structure – 61 percent of executives say that the incentive structures of their organization don’t always encourage the making of good business decisions.
Charles Tilley, FCMA, CGMA and chief executive of CIMA, said that “bad decisions make for bad business, so these findings are a cause for great concern.
