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Data Quality: CIOs Pressured from Data Quality Issues
While Big Data and associated analytics software has gotten the attention of executives, far less attention has been given to the quality of the data that businesses are collecting and using for analysis. The bromide “Garbage In, Garbage Out” (GIGO) is particularly true.
A recent report by Experian Data Quality had the following findings:
- Over the last year 92 percent of CIOs complained of problems because of data quality issues
- 46 percent of CIOs said that their biggest challenge in managing data was with quality issues
Thomas Schutz, senior vice president and general manager of Experian Data Quality, told Information Management that “organizations are starting to look at a more centralized strategy around data management. There needs to be someone who owns the strategic asset of data. It might be a CDO, CIO or another executive; but businesses are starting to realize ownership is a key component of getting data right… The biggest challenge is data quality issue resolution. That is, organizations understanding they have a problem, but they don’t know how to fix it. That issue relates to the people, processes and technology around data. You need someone to take ownership, technology to find the problem, and then you need a process/technology that can fix the issue. All three of those components have to be in order.”
