Maintain the integrity of your business information
High quality data is integral to your business success
Three Steps to Ensuring Enterprise Data Quality
Many businesses today are heavily dependent on data. Customer data can be obtained from a number of sources, ranging from consumer surveys, polls, and sales, to data from administration and accounting departments. This data is crucial and in many ways and can shape the future success and failure of the company. But information is completely useless if it is inaccurate, inconsistent or incomplete. Businesses looking to beef up their corporate governance, risk management and regulatory compliance standards should focus on their enterprise data quality standards.
The solution to all the data quality issue is Enterprise Data Quality Management (EDQM). EDQM is not something that can be implemented quickly or as a short-term stopgap measure. It requires a deep understanding of both how data flows through a business and where data quality management measures need to be implemented to be the most effective. Once this understanding is complete, the process of EDQM can begin.
- Ensuring the inflow of high quality data—Information is obtained by a company through multiple channels. Some channels can be controlled such as when legacy data transferred to a new system. This data simply needs to be re-engineered to match the new standards. For sources where inflow cannot be controlled, such as online forms, filters need to be in place that ensure the highest possible accuracy, as well as making sure it meets current corporate standards.
- Maintaining high-quality data in the company information system—Creating an internal group that oversees the maintenance of corporate data goes a long way towards maintaining quality. It is also important to perform regular quality audits on critical information pools.
- Maintaining information integrity with current business strategies—The integrity of data can be compromised with new sources, such as acquisitions and company mergers. The new data will need to be changed, eliminated or revised to meet current standards before it can be successfully integrated with the existing data.
EDQM is all about maintaining the correctness and accuracy of company information. And one of the most important steps in tightening enterprise data quality standards is to invest in high quality EDQM solutions that meet their requirements. Additionally, the EDQM solutions should be able to integrate into software applications such as SAP, Oracle-Siebel, or Microsoft Dynamics.