Latest studies by the Business Analyses Center LeBow (Drexel University) and Precisely – lider of the Data Integrity market – shed some light on how the data management programs directly influence the data quality. Two third of the organisations subject to studies report the improvement of their data quality as the „main benefit”.
The outcomes are based on the questionnaires distributed among 825 data and analytics specialists.
According to the specialists, the report features an informative insight into the benefits open for any organisation starting their Data Governance activities. The report indicated that 66% of the specialists confirms that better quality of data is the „main benefit”, and in case of the organisations already using Data Governance practices, this value goes up to 83%. Because some 75% also admit that the data quality is the „key concern for their organisations”, the report delivers also a convincing message to the companies, which want to understand their data better and trust them too.
Investment in data management ensures an added value for organisations
The results show that the organisations investing in data governance are able to draw much bigger added value from their activities. Apart from better quality of their data, the respondents reported general „higher quality of the data and observations” (56%) and also other advantages related to „easier cooperation” (52%) and „quicker access to the respective data” (50%).
Moreover, the data governance programs seem to encourage the companies to implement more strict processes of data quality assessment. 54% of organisations with already implemented platforms report that they also have the mechanisms of the data quality assessment – in comparison to 34% which do not have such programs developed. As one-third of the respondents admit that „currently they do not assess the quality of their data”, implementation of the data governance strategy may stand as a real chance for those, who want to understand their own data better – with simultaneous improvement of the measuring the KPI’s
Data governance programs may boast the management support, but also may be not culturally conscious.
The report, however, shows that – in spite of a strong support from the persons managing the programs – also exists a very real challenge related to the general consciousness and perception on the organisation side. 63% of answerers points at this factor as the main obstacle towards success. The results also reveal the willingness to more efficient supporting the implementation of already improved educational programs – 51% of respondents declare that some form of training is already available, 26% confirm that a formal program is being planned and 23% confess to having no training program at all.
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