Management information has become more critical to corporate decision-makers – 70% of the executives in a recent PwC survey said their companies' senior managers are paying more or significantly more attention to management information than two years ago. However, management information isn't robust enough to support the level of in-depth analysis that their companies’ decision-makers are requesting.
And in terms of using data to drive key strategic decisions, poor data quality is the main barrier to executives integrating more data and analytics into their decision making.
As the need to extract meaning and insight from data becomes ever greater, how can businesses remove the quality barriers which are impeding their ability to use their data effectively?
From our experience, tackling data quality is as much about changing behaviour as it is about providing technical fixes. Data errors and omissions typically start when the data is first captured – so identifying and working with the business creators of the data to lock in improvements to the capture process is crucial to addressing the underlying root cause.
Key questions to ask when embarking on a data quality improvement programme are: