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22:31 5th May 2010
Companies are not able to assess the quality of their data as its financial impact is not easy to be detected, Dylan Jones, founder and editor of online data community Data Quality Pro, has claimed.
Mr Jones noted that every business has data quality issues but added that the problems are in many cases hidden.
"Most organisations struggle to put a financial impact on poor data quality, so senior management can't get a feel for how this is all hitting the bottom line," he explained.
According to Mr Jones, poor quality data limits the performance of an organisation because staff have to spend "far too much time engaged on non-value adding activities resulting from data defects".
His views emerged after custom research practice Forbes Insights announced last month that data-related problems may be costing large enterprise groups in excess of $5 million (£3.27 million) every year.
The vast majority (95 per cent) of the 200 high-level executives polled agreed that strong information management is critical to business success.
Posted by Hannah James
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