How many times have you gone to a mechanic for a routine state inspection or oil change only to find out that there are more serious repairs that need to be addressed? Perhaps I am more sensitive to this situation since I drive a Jeep that can now be considered “antique,” but it has also come up with my wife’s late model vehicle.Read More
Posts about Data Quality
Aberdeen’s research shows that the top pressures driving organizations to improve their data management include the technical issues of poor data quality and slow data access as well as the business issues of inefficient processes and customer engagement. For organizations that struggle with these pressures or want to improve the way they handle their master data, Aberdeen recommends investing in tools for the entire data lifecycle.Read More
Have you ever been in a meeting where someone puts up a chart to make a point and someone in the audience says, “Those aren’t the proper figures”? You are not alone. Few company executives are confident that their data is good. A 2013 Information Difference survey found that only 39% of organizations even try to measure their data quality, and only 21% rate their data quality as “high.” A common problem for global organizations is to be able to confidently know their most profitable customers, products and suppliers. A 2012 PwC survey found that customer data was rated by respondents as the lowest quality of all data domains by a wide margin (finance and employee data was highest.Read More
How many of us have gone to the mailbox to find multiple catalogs from the same retailer? Are they nuts? Why are they wasting money sending two or three copies of the same catalog to one person? And, aside from their wasteful mistake, what does it say about their brand? Does your perception of the retailer diminish when you receive catalogs addressed to “J. Doe,” “John Doe” and “Jonathan Doe”?Read More
Most recent conversations in the data management world have centered on flashy terms like Big Data, real-time analytics, and self-service business intelligence (BI). However, lost amidst all this glitz and glamor is the fact that these advanced tools are dependent on the strong fundamentals of data capture, cleansing, and governance. Aberdeen Group’s research on data management revealed that one element of data management stood out as the most important – data quality. Out of 122 surveyed organizations, the Best-in-Class (top 20% of performers) were shown to be three times more likely than other organizations to adopt data quality tools. This in turn correlated with increased performance in data analysis, employee efficiency, and the speed and accuracy of business decisions.Read More
Ask any three department heads in your enterprise “Where can I find the most accurate information about our products and customers?” and chances are good that you will get three different answers. Getting a consistent answer to this question is imperative when taking your business to the next level.
Common business practices, such as mergers and acquisitions or implementing strategic initiatives, like omni-channel or customer-centricity, expose weaknesses in enterprise–wide data governance strategies. One department or brand group may manage critical data assets using a collaborative process to ensure accuracy while another may use strict workflows for approvals from key team members. Each approach has advantages, but the data each produces is still inconsistent. Why?Read More
The Case for Master Data Management
According to Aberdeen’s research, Best-in-Class companies (top 20% of performers in data accuracy, reliability, completeness, and accessibility) were more likely to provide a solid organizational foundation before they even started an MDM project. Laggard organizations (bottom 30%) were much less likely to perform these tasks. Begin building the case by getting an executive sponsor for MDM — a senior executive who understands the importance of data as a strategic asset. Once you get the executive, look for other stakeholders, both in the line of business and on the IT side, and bring them together in a cross-functional team. As part of a team, stakeholders can communicate all their needs and challenges.Read More
Most people have been swept off their feet by fictional Congressman Frank Underwood, a Democratic-Majority-Whip-later-Vice-President, who works his way to the top of the White House in the Netflix series House of Cards.
Whether or not you approve of his methods, Congressman Underwood can teach us a thing or two about information management.Read More
Data Governance seems to be a hot topic these days but despite all of the articles and whitepapers dedicated to the topic it seems that business leaders are still no clearer on what it’s all about. The questions that I am asked today are the same as they were when I began advising on data governance 14 years ago! I don’t know if this article will clarify things or make them more muddy but I thought I’d offer my view as someone who’s spent some time on the battle-lines of data governance.Read More