Study: Bad data hindering retailers

How good is your data?



Seventy-five percent of retailers believe inaccurate data is undermining their ability to provide an excellent customer experience, according to a study by Experian Data Quality.



"Businesses are evolving to make more intelligent decisions based on data, but they haven’t updated their data management processes to ensure they’re using high-quality information,” said Thomas Schutz, senior VP and general manager for Experian Data Quality. “Organizations still are struggling to find data issues and correct them across the business. While some of this is certainly due to a higher volume of more diverse data types, many of these organizational struggles are internal. For example, a business may lack a central data owner or data staff.”



The report, The 2016 Data quality benchmark report, found that: https://www.edq.com/white-papers/2016-global-data-management-benchmark-report/



• Seventy-five percent of businesses believe their organization is more likely to quantify and measure data department by department, rather than across the organization as a whole;



• Eighty-four percent state that data is an integral part of forming a business strategy; and



• Seventy-five percent find it difficult to predict when and where the next data challenge will arise.



To obtain a copy of the 2016 data quality benchmark report from Experian Data Quality, click here.