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The Value of Data Quality
Abstract
Almost everyone acknowledges the importance to business of data quality, however most organisations treat it as a technology issue. Increasingly, organisations are moving from cost recovery models to ones where they reward behaviours that develop their data as an asset. At their core, these models recognise that businesses live in an information economy that needs to be reflected at the micro level within the enterprise with individuals being rewarded as “information traders.” Introducing a trading approach to information changes, the mindset of the originators and managers of information who become motivated to maximise the value of the content they are responsible for. Just like any other resource, poor quality directly impacts its value. The approach also creates the opportunity to move the focus of data governance away from what is often perceived to be compliance activities to helping to establish pricing and the market as a whole.
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