Reducing Data Remediation Costs - One Simple Step Delivers A World Of Difference
Journal
Data in the digital age has opened limitless opportunities for large enterprises. From providing tailored customer solutions and omnichannel buying experiences to innovative ways to communicate with customers.
There is a sea of customer data flowing into organisations every day, that leaves them susceptible to data quality issues. The underlying risk - reputational and financial damage.
Data quality issues usually result from:
Gaps in operational processes
Unintended flow-on effects from projects
Changes in product or business rules
System or data migrations
Large organisation's allocate budget to resolve individual incidents and bigger data error events. Data errors are most often brought to light by a customer or group of customers and often upon investigation, further issues are discovered which blow out the severity and cost of fixing those errors.
What if we told you there is a simple alternate approach? Investing in your data early is your gateway to a competitive edge.
Being proactive with data quality management means less time fixing issues and more time spent making intelligent business decisions.
Though simple in concept, achieving the gold standard of data quality management is a major task. There are many challenges that inhibit data quality strategies including:
Constant changes in the business
Multiple data sources
Funding commitment to data quality projects
De-prioritisation of data quality
Where and how to start
The first step can be as simple as validating one important business rule that can make a significant difference for your customers. In most cases, we find that there is always a quick and positive ROI if data quality management is approached this way.
You can then start building a master data quality management framework which safeguards your organisation from future incidents and reduces exposure to high remediation costs.
Investigate DQ can help your organisation take these steps with our intuitive data quality platform. Investigate DQ is system-agnostic and quick to implement. It offers the flexibility to validate single or multiple business rules.
Once you set the foundations with Investigate DQ, your company can make intelligent business decisions to deliver innovative results for customers, clients, regulators, and teams.
If your organisation needs help with data remediation and data quality management, Investigate DQ can help.
