When is the BEST time for a Data Quality Review?

The quick answer to this question is NOW! However for most organisations, performing a data quality review can be a long-winded exercise. From my experience, following are some perfect opportunities to not only perform a data quality review, but also to resolve any data quality issues:   1. When planning to implement a new system and migrate existing data to it Why? Because you don’t want to be implementing a new system and transferring all the existing data issues to it. This is generally the one time where it can be easily justified as to why you need to get your data quality right. 2. When you need to share data with trading partners Why? Because you don’t want your organisation to look silly by providing information that is out of date or incorrect as the resulting issues can be costly. Imagine shipments being sent to the wrong customer address or your manufacturing partner has just made 10 times more parts than you require for your equipment, due to incorrect data that your organisation provided. 3. When you need reliable information to perform analytics or make decisions Why? Because you want to be making decisions using information that is accurate! What’s the point of making a decision on which existing product line to invest in, when your inventory transaction data is incorrect? 4. When you need assurance prior to an audit Why? Because failing an audit can be a costly exercise, ranging from warnings to loss of licence to operate. 5. NOW! Why? Because your organisation should be operating with accurate and reliable information at all times. You cannot...

5 ways in which poor data quality can cost you

We all know that data quality issues can cause frustrations, delays and hinder decision making. What we don’t always appreciate is that there is a cost associated with these data quality issues. In order to elaborate this point, I’ve described 5 ways in which this cost manifests itself along with some examples of what happens in real life: 1. Cost of fixing data Your team is always in fixing mode, ensuring all data issues reported by users are being resolved ASAP. That’s great news for the users! Whilst this is a common situation in many organisation that I have come across, what these organisations (or their managers) fail to see is that they’re investing their technical resources to fix data problems instead of focusing on value creating activities within the organisation. In effect, these technical resources are merely expenses to the organisation. The cost to the organisation manifests itself through the hiring of new resources to perform the value creating activities or through delays to these projects due to their reliance on resources with other, more important, priorities. 2. Fines & Penalties Let’s go back to the first example. Now, what about all those data issues that haven’t still been identified or reported by users? What if your organisation is legally obliged to respond to customer correspondence, warranty claims, etc within a certain period? If no one notices that something is missing, it won’t be reported, and won’t be addressed. Just the simple action of doing nothing because nothing appears to be wrong in itself is likely to lend your organisation to being fined by the authorities or regulatory bodies. Again, a simple solution...