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.
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contact data outdated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
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