According to Forbes, 84 percent of CEOs are concerned about the quality of the data they’re basing their decisions on. Gartner measures the average financial impact of poor data on businesses at $9.7 million per year and MIT recently reported the cost of bad data can add up to an astonishing 15% to 25% of revenue.
Problems with data quality are inevitable but data hygiene can be managed through an understanding of how bad information gets into systems, the types of issues most often at the root of data problems, a strategy for cleaning up bad information and a plan to ensure data quality remains high.
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