The cost of dirty data is difficult to assess. Mike comments in yesterday’s editorial with a number of costs that can arise as a result of poorly managed data.
Probably the biggest cost is the reputation of your company and its data assets. If you have multiple records for the same information it may be counted multiple times, skew summary reports. It can even result in multiple communications for marketing campaigns resulting in a frustrated customer who feels nagged instead of engaged with your relationship.
Dirty data can also result in other costs when there are multiple records, each with different information, and there is resolution as to which is the accurate record. Mailing addresses, employment, and phone numbers are important to keep current, and communicate across systems.
Having worked as a consultant for many years I have personally experienced the difficulty that arise as companies purchase or merge with other companies, and desire to centralize their data.
It appears to me that an individual could establish an ongoing career focused on Master Data Management, the processes involved, and the tools for implementing strategies. Are you a Master Data expert. Share your experience and/or prospects for the growth of this discipline. Leave your comment here, or drop a note to btaylor@sswug.org.
Cbeers,
Ben