Organizations are unable to maximize the value of internal data due to poor data management strategies
New Experian Data Quality study finds 78 percent of companies could improve their data management sophistication through improvements in people, processes and technology
BOSTON, March 24, 2015 /PRNewswire/ -- Experian Data Quality, a leading provider of data quality software and services, today announced the release of a new research study, Create your ideal data quality strategy. The study finds that the majority of organizations have failed to optimize their data management strategy, which has resulted in poor customer insight and wasted revenue.
The people, processes and technology around data management strategies need to be improved to have a positive impact on operations and overall business performance. The data finds:
- Companies who have enjoyed a significant increase in profits in the last 12 months manage their data quality in a centralized way, with ownership resting with a single executive
- Ninety-two percent of companies find some element of managing data to be challenging; the most commonly identified challenge is fixing data quality issues before they negatively impact business
- Eighty-eight percent of companies have a data quality tool in place, but the average U.S. organization still reports a third of their data to be inaccurate
"The data management strategies in place in most organizations today do not match the business's desire for data-driven insight. Organizations still rely on one-off, departmentalized approaches that deal with data in siloes," said Thomas Schutz, senior vice president and general manager for Experian Data Quality. "Today's data demands require a more centralized approach. Organizations need to invest in data management but in the right way: by hiring the right people and focusing them on centralizing processes and installing preventative software."
To obtain a copy of Create your ideal data quality strategy from Experian Data Quality, please visit http://go.experian.com/DQ-US-15Dataqualitystrategy0315.
About Experian Data Quality
Experian Data Quality is a global leader in providing data quality software and services to organizations of all sizes. We help our clients to proactively manage the quality of their data through world-class validation, matching, enrichment and profiling capabilities. With flexible software-as-a-service and on-premise deployment models, Experian Data Quality software allows organizations around the world to truly connect with their customers by delivering intelligent interactions, every time.
Established in 1990 with offices throughout the United States, Europe and Asia Pacific, Experian Data Quality has more than 13,500 clients worldwide in retail, finance, education, insurance, government, healthcare and other sectors. For more information, visit http://www.edq.com.
About Experian
We are the leading global information services company, providing data and analytical tools to our clients around the world. We help businesses to manage credit risk, prevent fraud, target marketing offers and automate decision making. We also help people to check their credit report and credit score, and protect against identity theft. In 2014, we were named by Forbes magazine as one of the "World's Most Innovative Companies."
We employ approximately 16,000 people in 39 countries and our corporate headquarters are in Dublin, Ireland, with operational headquarters in Nottingham, UK; California, US; and Sao Paulo, Brazil.
Experian plc is listed on the London Stock Exchange (EXPN) and is a constituent of the FTSE 100 index. Total revenue for the year ended March 31, 2014, was US$4.8 billion.
To find out more about our company, please visit http://www.experianplc.com or watch our documentary, "Inside Experian."
Experian and the Experian marks used herein are trademarks or registered trademarks of Experian Information Solutions, Inc. Other product and company names mentioned herein are the property of their respective owners.
Contact:
Erin Haselkorn
Experian Data Quality Public Relations
1 617 385 6700
[email protected]
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SOURCE Experian Data Quality
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