Jon Brooks, CEO of Datactics, "We have seen a growing gap between the ever increasing reliance on technology and data and the senior management and executives who run the business."
(PRWEB) March 1, 2010
Datactics, a world leader in Data Quality has been working on its own original research, combined with customer observations, marketplace commentaries, web-based information and analyst reports in order to create background information to help those interested in this market. Datactics today publishes an ‘Executive Briefing’ document (the first in a series) which highlights a number of these important findings.
Senior management trust the data they are supplied with and base strategic business decisions on this data, but there is often a ‘knowledge gap’ between users and the real condition of that data in quality terms.
Data is consistently the second most important asset as measured by organizations, only behind the knowledge and skills of its people. The quality of that data is, therefore, ever more critical. In fact, the relative quality of data can be a major differentiator for better or worse for an organization.
Data reduces in quality for a number of reasons. The research highlighted some of the major contributors, including – mergers and acquisitions, differently formatted source data from suppliers which has to be ‘adjusted’ prior to use, data creation and/or amendment through its lifecycle, application usage of data which is different from the original planned use of that data, upgrades of infrastructure systems and the multi-divisional use of data which is often ‘re-merged’ again after use. Any combination of this activity can dramatically reduce the quality of data.
The research also points out the impact of reduced Data Quality. This is described as having a negative impact on organizational performance – either in direct ‘hard’ cost terms or in ‘soft’ areas (like customer satisfaction, time to market and compliance) where there are costs and consequences but they are not as easy to define. Interestingly, all of the external sources (analysts, commentaries, customer comments etc) confirmed this finding directly. Put simply, the lower the Data Quality, the more issues and consequences there are.
Jon Brooks, CEO of Datactics said “We are delighted to be able to launch this new series of briefing documents. We have seen a growing gap between the ever increasing reliance on technology and data and the senior management and executives who run the business. This series is designed to help non-technical management gain a greater understanding of the issues and dynamics surrounding the effective use of data throughout the organization. It will also help them work with technologists to identify and clear the roadblocks to progress caused by data issues. ”
Datactics data quality solutions equip the business user to build a unified, enhanced and accurate view of product, supplier, customer and financial data. Use of Datactics reduces manual data cleansing time and costs, creating faster time to market, driving revenue as well as reducing risk and costs. The company specializes in industries such as healthcare, distribution, retail and manufacturing.
Datactics has over 10 years experience in the data quality industry. The company has gained industry recognition as a visionary within the Gartner Magic Quadrant for Data Quality Tools since 2007. Datactics has been recognized by Bloor Research and also by Information Difference in its Data Quality Landscape Report. Datactics has a strong portfolio of Fortune 500 customers and other leading organizations, and a worldwide partner network.
For more information please contact us now on: USA + 1 312 291 4185 or UK + 44 (0) 28 9073 8854 or visit Datactics online at http://www.datactics.com.