BOSTON, Sept. 27, 2016 /PRNewswire/ -- Experian Data
Quality, a leading provider of data quality software and services,
today announced the release of a new research study, Building a
business case for data quality. In the rapidly growing field of
data quality, businesses are investing in new technology, but
current practices for building a data quality business case need to
be improved. Better data insight and fact-based communication can
reduce the number of stakeholders and better tie initiatives to key
priorities, helping to expedite approval of these business case
proposals.
Bad data has impacted most businesses negatively in the last 12
months. With only 2 percent of businesses stating that they
completely trust their data, it's obvious that organizations deal
with a significant amount of inaccuracy. But while 86 percent see
value in implementing a data quality initiative, these business
cases take an average of 12 to 18 months to approve and often lack
a dedicated owner.
"We know that businesses are dissatisfied with this level of
inaccuracy in one of their most critical assets," said Thomas Schutz, senior vice president and general
manager for Experian Data Quality. "This research backs up what
we've heard from our clients — business cases take too long and are
too disjointed. Changes are frequently discussed with sentiment and
gut feeling, rather than with real data tied to relevant business
problems. By improving communication and backing it up with hard
facts, business cases can involve fewer stakeholders and take less
time to approve."
The study also found that:
- 80% of businesses say there are too many stakeholders involved
in building a business case for data quality
- 89% say that customer experience is a critical driver behind
their data quality initiatives
- Other key drivers behind data quality initiatives include
regulatory compliance, business intelligence, adding value to
business initiatives and marketing efficiency
To obtain a copy of Building a business case for data
quality from Experian Data Quality, please visit
https://www.edq.com/resources/data-management-whitepapers/building-a-business-case-for-data-quality/.
About Experian Data Quality
Experian Data Quality is a
global leader in providing data quality software and services to
organizations of all sizes. We help our clients to proactively
manage the quality of their data through world-class validation,
matching, enrichment and profiling capabilities. With flexible
software-as-a-service and on-premise deployment models, Experian
Data Quality software allows organizations around the world to
truly connect with their customers by delivering intelligent
interactions, every time.
Established in 1990, with offices throughout the United States, Europe and Asia
Pacific, Experian Data Quality has more than 13,500 clients
worldwide in retail, finance, education, insurance, government,
healthcare and other sectors. For more information, visit
https://www.edq.com.
About Experian
We are the leading global information
services company, providing data and analytical tools to our
clients around the world. We help businesses to manage credit risk,
prevent fraud, target marketing offers and automate
decision-making. We also help people to check their credit report
and credit score and protect against identity theft. In 2016, for
the third year running, we were named one of the "World's Most
Innovative Companies" by Forbes magazine.
We employ approximately 17,000 people in 37 countries and our
corporate headquarters are in Dublin,
Ireland, with operational headquarters in Nottingham, UK; California, US; and São Paulo, Brazil.
Experian plc is listed on the London Stock Exchange (EXPN) and
is a constituent of the FTSE 100 index. Total revenue for the year
ended March 31, 2016, was
US$4.6 billion.
To find out more about our company, please visit
http://www.experianplc.com or watch our documentary, "Inside
Experian."
Experian and the Experian marks used herein are trademarks or
registered trademarks of Experian Information Solutions, Inc. Other
product and company names mentioned herein are the property of
their respective owners.
Contact:
Erin Haselkorn
Experian Data Quality Public Relations
1 617 385 6700
erin.haselkorn@experian.com
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SOURCE Experian Data Quality