Information Quality Strategy

Eliminate Unnecessary Costs with an Information Quality Strategy

Every day organisations make business decisions assuming the information in their system is accurate but for many it can be costly if the data is flawed, outdated or unchecked.

It’s estimated that organisations lose 20-30% of their operating revenue every year due to data quality and process issues. Larry English recently published a table showing that poor data and process quality was costing 122 ‘mostly reputable organisations’ over 1.2 Trillion US Dollars* (that’s $1,200,000,000,000).

A common challenge faced by organisations is how to make information quality an intrinsic part of their day-to-day business rather that it being perceived as an overhead. An Information Quality Strategy can assist by providing an independent assessment of data quality issues within your current data and business processes, and providing a road map to resolve them.

Accurate and timely data can lead to improved decision making, reduced costs as well as increasing operational efficiency by reducing the amount of rework in reporting and re-executing business processes.

The following diagram demonstrates that Information Quality is impacted by a number of factors.

The key to successfully managing information quality is having an Information Quality Strategy that is flexible enough to adapt to the changing needs of your organisation, yet practical and feasible to maintain.

By reviewing the end-to-end process in which your organisation collects, stores and uses data, areas for improvement can be quickly identified and targeted. An overall Information Quality Strategy that takes into consideration not just the data itself but the people, policies, processes and technologies involved are critical to the success of a quality improvement initiative.

Our Proven Framework for Improving Information Quality

We work with you to identify and analyse the key data issues faced by your organisation, and we have a proven framework for developing an overall strategy and a high-level phased implementation plan for improving your information quality.

Through our process we’re able to:

• Leverage industry best practice in the Information Quality domain
• Establish clear ownership of data quality issues by engaging key stakeholders in both Business and IT
• Define a proactive, flexible and sustainable approach to information quality management
• Reduce rework and overheads involved with managing data
• Define measures for evaluating the success and return on investment of information quality initiatives
• Assist with the implementation and delivery of the information quality strategy using a variety of methods and data quality toolsets
• Work closely with you to ensure knowledge and skills transfer
• Ultimately improve business confidence in data and the subsequent business decisions

Execution

Your information quality strategy is only valuable if it can be executed. We have demonstrated experience in not only developing Information Quality Strategies but also helping to implement and deliver them using a variety of methods and data quality toolsets.