What are the ramifications of poor Data Quality?

What are the ramifications of poor Data Quality?

Poor Data Quality always adds costs to operations so naturally reduces organisation profits. The impacts and rework associated with the DQ problems is often not recognised, the problems do not receive the attention they should, and the business continues to waste money as a result.

There can be other more evident impacts such as:

• Loss of customers due to data problems that impact on Customer Service
• Non-compliance with regulatory requirements due to problems with information
• Loss of profits due to fines paid to regulatory bodies, as a result of the data problems
• Ineffective /flawed decision making from incorrect data or poor information
• Public embarrassment resulting in loss of credibility from media publications re problems experienced which are caused by poor data quality
• Loss of Market share as a result
• Wrong / inappropriate communication within the organisation
• Never ending and expensive Data Correction
• Increased operational costs due to scrap and rework