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Data quality ROI 'should be defined by tangible business impacts'
Aug 3 2010, 09:39 AM
The return on investment (ROI) provided by data quality initiatives should be measured in the tangible business benefits such work provides.
This is the view of SmartData Collective blogger Jim Harris, who stated that it can sometimes be difficult to convince financial decision-makers and company stakeholders of the true benefits of conducting data quality projects.
He recommended that the task can be sold on the basis of ROI it provides in terms of "mitigated risks, reduced costs or increased revenue".
"Articulate the cost of doing nothing (i.e. not investing in data quality) by also using tangible business impacts," Mr Harris added.
Last month, the columnist said that good data quality can help to enable better business decisions and optimal performance at a company.
Mr Harris went on to state that conducting such work should be done as an enterprise-wide initiative that will help to provide complete, accurate and useful business information.
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