June 18, 2018

Companies Struggle with Data Quality Basics

One-Third of Companies Have No Formal Data Quality Process: Royal Mail Survey

Royal Mail

Who manages customer data? It's marketing at about one-third of the companies polled by DataIQ for the UK Royal Mail. Two-thirds cited a central data organization or IT. (Multiple answers were allowed so at some companies it’s both, and/or other groups including CRM and customer service.) Rather shockingly, one-third (32.7%) had no formal data quality process and 16.3% don’t validate internal data at all. Lots of other interesting data, including estimates of how much bad data harms the bottom line.

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Chief Data Officers Focus on Efficiency, Not Customer Experience: Experian

Experian

Should companies have a Chief Data Officer to focus on data exclusively? Experian found that 82% of CIOs think so, with the main reason being to drive business value. Oddly enough, just 45% of the CDOs in the survey felt their roles should move beyond control and compliance. Still more distressing, most felt they already spend too much time on improving customer experience. They’d rather work on operational efficiency and data innovation. Tsk.

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Half of Chief Data Officers Have No Data Inventory: FIMA, ASG, Wipro Study

ASG

A survey from ASG, Wipro, and the U.S. Financial Information Management conference (FIMA) also reported that many (45%) of CDOs are more focused on compliance than business improvement. In their defense, many are struggling with inadequate technology: just one third had a data lineage tracking system and only half had a data inventory.

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