Data quality of an organization denotes the fitment and the ability of the information as recorded in the organization to serve its goals be it operational , marketing or compliance . If the data quality is poor, the organization would not have clear picture of its customers, products, transactions and obviously no organization would wish to be in this undesirable situation.
Organizations with high data quality have the competitive edge in terms of increased sales and operational efficiency, increased revenue, lower operational costs as well as be upto date on meeting regulatory requirements.
Problem of poor data quality in a customer facing organization is a real world problem and can occur at many instances in the information life cycle. Right from data feeding stage to decisioning system to warehouse to BI/MIS , the data is handled for various purposes by real people and is vulnerable to errors as it flows through the system.
Therefore it is required to ensure that a proper data quality management practices are adopted along with strong data quality management tool or solution.