Decision-making with Bad Data
A recent short article called "DATA GARBAGE IN", the Harvard Business Review exposed just how surprisingly bad the data we rely on for analytics is.
Seventy-five managers were tasked with evaluating 100 records that they has used to make a past analysis. The retrospective found found only 3% of the record data acceptable and 47% unusable. Their conclusion was predictable. There are high cost consequences using bad data and the extra effort to assure good data would pay off quickly.
Good data isn't cheap! It's not fast or easy to build. But once in place and maintained, it creates a reliable foundation that easy to expand and empowers managers to confidently conduct analysis and make supportable decisions.
Over the course of our 30 years in business, we have found critical issues in data records in many different institutions and enterprises. Once data records are "cleaned," the company experiences both short and long term payoffs, which further elevate the enterprise. After implementing our services, we have seen companies improve in several facets leading to more efficient decision making and a happier customer base.