Data is the mirror of your business. It is the reality you perceive and record. If you don’t invest in quality, you undermine your operation.
Your Data has to be:
– Trustworthy: You need to know where it is coming from, how accurate it is and if it always arrives in a timely manner.
– Self-describing: You need it to come with clear context and carry all the metadata allowing you to understand it.
– Modular: You need it to come in the right format, under the right schemas, granularity and within the right infrastructure.
– Accessible: You need to have clear owners for each data set, with precise output and with the right analytics.
Any digression or unreasonable compromise and you immediately end up with unmanageable (and very expensive) data and technical debt.
Bad quality data costs U.S. companies about $3.1 trillion per year.