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Information Quality Applied: Best Practices for Improving Business Information, Processes and Systems
book

Information Quality Applied: Best Practices for Improving Business Information, Processes and Systems

by Larry P. English
October 2009
Beginner to intermediate content levelBeginner to intermediate
839 pages
29h 16m
English
Wiley
Content preview from Information Quality Applied: Best Practices for Improving Business Information, Processes and Systems
Chapter 6 n Measuring the Costs of Poor Quality Information 277
Objective
To establish the relative importance of information to the business, and to be able
to measure the Missed and Lost Opportunity Costs of Poor Quality Information.
See Figure 6-18 for the steps to calculate the Opportunity Costs of Poor IQ.
P3.6
Calculate
Opportunity
Costs of
Poor Quality
Participants:
IQ Team
Finance staff
Customer Care staff
P2.1.O2 Prioritized
Information Group
P3.5.O1 Customer
Lifetime Value Table
P3.6.O1 Poor Quality
Information Opportunity
Costs Report
Customer Complaints
P3.6.O1 Poor
Quality Information
Opportunity Costs Report
Techniques / Tools:
Customer Complaint Analysis
Income / Profit Analysis
Figure 6-18: P3.6 Calculate Opportunity Costs of Poor Quality Information.
Inputs to P3.6
P2.1.O2 Prioritized Information Group: The Information Group for which
Poor Quality Information Opportunity Costs are being measured
P3.5.O1 Customer Lifetime Value Table: The profit or revenue figure to be
used to calculate Lost and Missed Opportunity, whether by Customer
segment or as a blended figure for all Customer Segments
P3.6.O1 Poor Quality Information Cost Report: Prior opportunity cost reports
from previous studies to analyze trends
Customer Complaints: Actual recorded Customer Complaints, record-
ings, or written verbatim Customer conversations. These are reviewed
for presence of IQ issues as part of the ...
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Publisher Resources

ISBN: 9780470134474Purchase book