Better Data, Better Performance Management

Topics:
CRM,
Performance Management,
Strategic Management Tools
Tags:
Analytics,
Revenue Recognition,
Performance Management,
Performance,
Penton Media Inc.,
Financial Services,
Enterprise Software,
Databases,
Data Quality,
Data Management,
...
Source:
Penton Media

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Overview: Dirty data renders analytics software useless. Improving data quality is an ongoing and expensive process, but data cleansing efforts can pay for themselves. The old maxim "Garbage in, garbage out" still holds true for data quality. All the money and effort companies pour into the latest analytical software tools are wasted if their raw data is worthless. But the cost of dirty data goes far beyond those losses. The Data Warehousing Institute estimates that data-quality problems cost U.S. businesses more than $600 billion a year. And in an environment of increasingly rigorous governance laws, the impact of improper revenue recognition or earnings restatements can be devastating.

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Format: HTML | Date: Apr 2003

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