The availability, velocity, and variety of data are increasing at an exponential rate. This wealth of data, if ingested, queried, and visualized correctly, should be able to support numerous use cases in real time. However, the growing volume of data has increased data complexity manifold, highlighting key issues in the storage and processing of data. With businesses needing faster and more flexible ways of organizing and querying data, maintaining the quality of data has become a major obstacle to the efficient use of datasets. In this infographic, we are going to dive into the three tenets of data quality to highlight the importance of quality data across different verticals.

IN DATA WE TRUST

Tenets of data quality: The good, bad, and ugly
Enterprise leveldata analysis
andBusiness Intelligence (BI)
are only as good as thedata
being stored and processed.
The growth ofglobal data
isunprecedented
A phenomenal
YOY growth of+1001%
By 2024, it is estimated that
organizations on average will have
to manage 3 zetta bytes of data.
That is an increase by 1090%
Put into perspective, that’s 3 trillion 1 GB hard
drives stacked in a data center the size of two Olympic
sized swimming pools.

The

GOOD

INCREASES

Enterprises are getting
more of what matters most

REVENUE
+25-30%
SALES
+15-20%

++Impact

Data improved operations
and overall business health

Improved decision making
Enhanced productivity
Greater compliance
Focused Marketing

The

BAD

Acccuracy

Huge chunks of data residing
in enterprise databases are inaccurate

data is inaccurate

contact data outdated

of all leads generated are
bad leads

++Impact

Fixing data inaccuracies are
costing enterprises dearly

Enterprises reported reduced operational
efficiency and productivity

81%

enterprises report issues generating
business intelligence that aggravate
decision making

The

UGLY

TheCosts

Dirty data is hurting
enterprises in large numbers

84%

CEOs distrust decision-making across
their organizations

Revenue loss
between $10 to $14 Million USD annually

37%

customers dissatisfied with end results

Reputational damage of the product or the company

Lack of compliance
and risk of penalty

About
Torry Harris is a multinational provider of business, technology, and IT consulting services. For over two decades, our focus has been on providing solutions in the areas of integration for digital enablement, digital marketplace services, full life-cycle API management, IoT and digital ecosystem enablement.
 

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