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What's Dirty Data Costing You?

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Labor productivity gets affected almost 20% due to bad data quality! Poor data quality, such as missing information, lack of consistency, and incorrect values can affect your organization’s true …

Labor productivity gets affected almost 20% due to bad data quality! Poor data quality, such as missing information, lack of consistency, and incorrect values can affect your organization’s true potential. Dirty data can reduce efficiency, create avoidable risks and costs, and compromise good decisions. Read why access to good data can make your business more efficient and agile.

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  • 1. What’s Dirty DataCosting You?Trustworthy, accurate, and complete data is the oil that lubricates yourbusiness’ engine. Without it, business processes stall, applications misfire, andnormally good decision makers lose their way. Do you think bad data’s not thatbig of a problem at your company? You may be right. But missing information,lack of consistency, and incorrect values might also be subtly masking yourorganization’s true potential by choking efficiency and agility, opening the doorto unnecessary risks and costs, and compromising decisions big and small.You wouldn’t run your car on dirty oil, so why are you letting your business runon questionable data? And better yet, what are you going to do about it?SourcesFact 1: Gartner: Predicts 2012: Information Infrastructure and Big Data Published: 29 November 2011Fact 2, 5, 6: Ventana: CIOs Need to Make Information Management a Real Priority August 8, 2012 Mark SmithFact 3, 4: Gartner, Measuring the Business Value of Data Quality Published: 10 October 2011Fact 7, 8: Gartner: Predicts 2013: The Nexus of Forces Boosts Information Governance and MDM, November 28, 2012Fact 9: http://www.news-sap.com/sap-delivers-new-eim-innovations-to-help-customers-gain-trusted-information/Fact 10: Alliander quote© 2013 SAP AG or an SAP affiliate company. All rights reserved.But is data quality really that important?How important is data quality? Why is it such a problem?If quality data is so important, then what is the obstacle in theway? How will they overcome it in the future?Who’s doing it well today?How does this change the waythat organizations show theimportance of managing data?Run like never beforeDeliver trusted data and empower users togovern data with data quality managementsolutions from SAP®.www.sap.com/eimThrough 2016,25%of organizations usingconsumer data will facereputation damagedue to inadequateunderstanding ofinformation trust issues. 1Through 2016,66%of Global 500organizationswill implement aninformationstewardshipapplication. 7By 2015,half of all organizationswith information-intensiveoperations will have anexecutive positionof Chief Data Officer. 8When asked what the biggest barriersto managing their information are67%of companies say its the spread of dataacross too many applications and systems.64%say it’s the multiple versions of the truth. 2Alliander60%achieved data quality controlwhile cutting IT costs byIn two-thirds of organizations,analysts spend the majority oftheir time on data-related tasksinstead of analytic ones, partiallybecause they lack access to consistentcompany information. 5What are consequences ofmissing or dirty data?40%Poor data quality isthe primary reason forof all businessinitiatives failingto achieve theirtargeted benefits. 452%of companies say lack of support from the business —in the form of resources and training — is a major obstacleto information management. 6National Visionexpanded their information management journey,starting with a data warehouse initiative and evolvingto support of enterprise-wide information architecture.“By introducing a managed environment for data, overseenby business users instead of IT,we made data quality controlfaster, cheaper, and transparent.”René Haasdijk, businessintelligence manager. 10“At National Vision, we involved the business users in the process,enabling them to access all types of data from a centralized locationincluding customer, sales/transactional data, employee data,store/location data, product data, employee data, etc.,” saidLouann Seguin, vice president, Information Technology and Strategy,National Vision.“Our use of IM tools from SAP for information accessand cleansing helped us shift our IT focus from custom developmentto strategic integration.” 920%3Data quality effects overalllabor productivityby as much as