As our dependency on technology increases unabated, many organisations are not reaping the benefits because a significant proportion of their data is incomplete or incorrect.
It is so easy to ignore the quality of data or to make optimistic assumptions about its state. The result can be the creation of a huge pool of misinformation. In commercial terms this will cost companies money and for some public services the consequences could be catastrophic.
Gartner Group estimates that more than 25% of critical data within Fortune 1,000 businesses is inaccurate or incomplete and that up to 70% of all data integration projects fail due to data issues.
These failed projects can consume up to 50% of IT’s budget with continual “information/data scrap and rework”.
Eclectic’s approach enables organisations to establish a data management strategy going forward while ensuring that the immediate data issues are addressed.
Improving data quality is not a one-off event. It must be managed as a continuous process to ensure that the benefits are sustained over time. At Eclectic we believe our approach to the management of data establishes a long-term solution to improving and maintaining data quality which can be extended to address data issues across the whole organisation.
- Data cleansing – the correction of data to an agreed standard
- System fixes – the correction of faulty programs, systems or interfaces to remove data errors
- System amendments – the amendment of programs, systems or interfaces to allow additional data to be collected and/or delivered to those who need it
- New systems developments – the design, specification and development or selection of new systems to support the capture, maintenance or delivery of corporate data
- Feeding back incorrect data to source systems
- Combining and merging of data
- Implementing rules to enhance the quality of the data
- Preventing the use of data until it is proven to be of acceptable quality
- Adding a data quality audit trail for all data so any decisions based on the data will be of a measurable level of confidence
- Fix ERP, CRM and legacy data problems
- Integrate data from multiple sources without affecting existing IT
- Prevent “junk in – junk out” degrading Management Information performance
- Provide compliance with corporate governance, due diligence regulations and Data Protection
