THE DATA WAREHOUSING INSTITUTE’S RECENT STUDY FINDS HIGH QUALITY DATA IS CRITICAL TO THE SUCCESS OF BUSINESSES WORLDWIDE.
TDWI study shows that poor data quality costs U.S. businesses an estimated $600 billion a year.
SEATTLE, WA---February 1, 2002---The Data Warehousing Institute (TDWI), the leading provider of in-depth education and research in the data warehousing and business intelligence industry, has released the first report in its 2002 Report Series titled Data Quality and the Bottom Line: Achieving Business Success through a Commitment to High Quality Data.
The report shows that there is a significant gap between perception and reality regarding the quality of data in many organizations, and that current data quality problems cost U.S. businesses more than $600 billion a year. The report's findings were based on interviews with industry experts, leading-edge customers, and survey data from 647 respondents.
“In recent years, the failure and delays of many high profile IT projects as a result of unanticipated data quality problems is causing executives to wake up to the real cost of poor quality data,” said Wayne Eckerson, director of education and research at The Data Warehousing Institute. However, almost 50 percent of survey respondents express no current plans to implement an initiative to improve data quality, while 78 percent said their organizations need additional education about the importance of data quality and methods to maintain and improve it.
“The good news is that achieving high quality data is not beyond the means of any company,” continued Eckerson. “Companies that have invested in managing and improving data quality can clearly cite the tangible and intangible benefits of doing so.” Benefits include improved customer satisfaction, a “single version of the truth,” and “greater confidence in analytical systems.”
The report also addresses how to develop a strategic plan for improving data quality and sustaining this commitment over time. In addition the report outlines the capabilities of commercial data quality tools and the types of problems they are best suited to address.
Data Quality and the Bottom Line: Achieving Business Success through a Commitment to High Quality Data was sponsored by six leading data quality solution providers; Arkidata Corporation , DataFlux Corporation , DataMentors Inc. , Sagent Technology, Inc., SAS Institute, and Vality Technology, Inc.. This series is designed to educate technical and business professionals about new business intelligence technologies, concepts, or approaches that address a significant problem or issue.
For more information or to obtain a complete copy of the report, please contact:
Meighan Berberich
Marketing Manager
The Data Warehousing Institute
5200 Southcenter Blvd., Suite 250
Seattle, WA 98188
Phone: 206-246-5059, ext.104
Fax: 206-246-5952
Email: mberberich@tdwi.org
THE DATA WAREHOUSING INSTITUTEThe Data Warehousing Institute™ (TDWI), a division of 101communications, is the premier provider of in-depth, high quality education and training in the data warehousing and business intelligence industry. TDWI is dedicated to educating business and information technology professionals about the strategies, techniques, and tools required to successfully design, build, and maintain data warehouses. It also fosters the advancement of data warehousing research and contributes to knowledge transfer and professional development of its Members. TDWI sponsors and promotes a worldwide membership program, annual educational conferences, regional educational seminars, onsite courses, solution provider partnerships, awards programs for the best practices and leadership in data warehousing and innovative technologies, resourceful publications, an in-depth research program, and a comprehensive Web site.
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