4
ECONOMIC FRAMEWORK OF DATA QUALITY AND THE VALUE PROPOSITION
The key to understanding the importance of quality data lies with an examination of the costs and benefits associated with data quality. Without an economic framework to measure the detrimental effect of poor data in an organization, it is difficult to make an argument for the investment in a knowledge management program.
Most frequently, poor data quality is measured by anecdotes or descriptions of hazy feelings of difficulty in implementation, as well as by tales of customer dissatisfaction. While these somewhat vague measurements seem to verify that something is wrong, they give no clear indication of the severity of this “wrongness,” nor do they offer solutions.
If there is a ...
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