Dedicated to Data May 28, 2008
Posted by Meg Sewell in Actionable Intelligence, Inovis Solutions.Tags: Data Quality, Measuring Data, Supply Chain Digest
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Do you know your data quality? I found this article on Supply Chain Digest’s website today, and according to this piece entitled Managing SCM Performance, a Gartner survey from 2005 found that more than 25% of critical data within business is inaccurate or incomplete. Yikes!
And an expert they talked to, Horacio Woolcott, CEO for PartsRiver (a data quality service company) reported, “Our clients tend to overestimate the quality of their data and are shocked when we do an analysis and find out how poor the data actually is. Few have any metrics in place to measure critical data elements and, if they do measure, they seldom look at how well the data meets the needs of the user.”
The only way to make sure you’re data is up to par, the article goes on to say, is to measure it. For the data to be usable, it must be accurate, consistent, complete, and valid.
So, what is the quality of your company’s data? You are only as effective as your data.
