TDWI study shows that poor data quality costs U.S. businesses an
estimated $600 billion a year
SEATTLE, WA — February 1, 2002 — The Data Warehousing
Institute (TDWI), the leading provider of in-depth education and research in the data
warehousing and business intelligence industry, has released the first report in its 2002
Report Series titled Data Quality and the Bottom Line: Achieving Business Success through
a Commitment to High Quality Data.
The report shows that there is a significant gap between
perception and reality regarding the quality of data in many organizations, and that
current data quality problems cost U.S. businesses more than $600 billion a year. The
report’s findings were based on interviews with industry experts, leading-edge customers,
and survey data from 647 respondents.
“In recent years, the failure and delays of many high
profile IT projects as a result of unanticipated data quality problems is causing
executives to wake up to the real cost of poor quality data,” said Wayne Eckerson,
director of education and research at The Data Warehousing Institute. However, almost 50
percent of survey respondents express no current plans to implement an initiative to
improve data quality, while 78 percent said their organizations need additional education
about the importance of data quality and methods to maintain and improve it.
“The good news is that achieving high quality data is
not beyond the means of any company,” continued Eckerson. “Companies that have
invested in managing and improving data quality can clearly cite the tangible and
intangible benefits of doing so.” Benefits include improved customer satisfaction, a
“single version of the truth,” and “greater confidence in analytical systems.”
The report also addresses how to develop a strategic plan
for improving data quality and sustaining this commitment over time. In addition the
report outlines the capabilities of commercial data quality tools and the types of
problems they are best suited to address.
Data Quality and the Bottom Line: Achieving Business
Success through a Commitment to High Quality Data was sponsored by six leading data
quality solution providers; Arkidata Corporation, DataFlux Corporation, DataMentors Inc.,
Sagent Technology, Inc., SAS Institute, and Vality Technology, Inc. This series is
designed to educate technical and business professionals about new business intelligence
technologies, concepts, or approaches that address a significant problem or issue.
For more information or to obtain a complete copy of the
report, please contact:
Meighan Berberich
Marketing Manager
The Data Warehousing Institute
5200 Southcenter Blvd., Suite 250
Seattle, WA 98188
Phone: 206-246-5059, ext.104
Fax: 206-246-5952
Email: [email protected]
THE DATA WAREHOUSING INSTITUTE
The Data Warehousing Institute (TDWI), a division of
101communications, is the premier provider of in-depth, high quality education and
training in the data warehousing and business intelligence industry. TDWI is dedicated to
educating business and information technology professionals about the strategies,
techniques, and tools required to successfully design, build, and maintain data
warehouses. It also fosters the advancement of data warehousing research and contributes
to knowledge transfer and professional development of its Members. TDWI sponsors and
promotes a worldwide membership program, annual educational conferences, regional
educational seminars, onsite courses, solution provider partnerships, awards programs for
the best practices and leadership in data warehousing and innovative technologies,
resourceful publications, an in-depth research program, and a comprehensive Web site.
About 101
Founded in 1998, 101communications is an integrated media
company in the business-to-business market aimed at the many specialized targets within
the greater information technology community. 101’s portfolio includes magazines,
conferences and extensive digital offerings in the U.S. and Europe in five areas: Software
Development (Application Development Trends, Application Development Advisor,
JavaSPEKTRUM, OBJEKTspektrum, SIGS/101 Conferences); Vertical Markets (Recharger Magazine,
Recharger WorldExpo, Office Technology); Windows Certification (Microsoft Certified
Professional Magazine, MCP TechMentor Conferences), Enterprise Technology (Enterprise
Systems, The Data Warehousing Institute, IT Events) and Government and Education
Technology (Federal Computer Week, E-Gov, Syllabus, Syllabus Conferences). For more
information on 101communications visit www.101com.com.
