3 Data Quality Issues That Could Impact Your Judgment

Google tells the story “big data,” and autocomplete for search: “Big data is the future. Big data is the new oil. “

These are some exciting statements, but what is often lost in conversations about big data is the high cost bad Data.

If your company prides itself on making data-driven decisions, it is important to recognize that those decisions will only be as good as your data. The cost to the US economy is $ 3.1 trillion per year due to poor data quality, and it is causing a crisis of confidence in many industries.

According to a recent Gartner report, more than half of senior marketing leaders are disappointed in the results that have come from investing in data analytics. As a result, only 54% of their activities are affected by the data. By 2023, Gartner predicted that CMOs were downsizing their analytics teams without any expectations.

The importance of quality data cannot be understated, but often leaders do not know where their data collection and analysis is breaking down. Here are three data-quality issues you may not be aware of …

Anomalies become difficult to manage as data balloons

Often, the data does not follow a logical pattern. This does not mean that your data is not accurate, but outliers (such as seasonal fluctuations) should be accounted for.

If you own an apparel company that sees a huge demand for red sweaters in lead for Christmas, you can easily identify the root cause and handle it appropriately. However, completely r