How Much Can Bad Data Cost Us?

The never-ending fight to cease bad data

Nam Nguyen
Aug 11, 2020 · 7 min read
Photo by Jonas Leupe on Unsplash

Bad data is expensive

1. Organizations believe poor data quality to be responsible for an average of $15 million per year in losses - Gartner research2. 60% of data scientists admit that they spend most of their time cleaning and organizing data - CrowdFlower3. It costs 10 times as much to complete a unit of work when the input data are defective as it does when they are perfect - the Rule of Ten by Thomas C. Redman
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Bad data is the root of all evil

How quickly can we react?

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Data governance is to add a security layer

Data Quality ensures that data is fit for its intended uses in operations, decision making, and planning.

By failing to prepare, you are preparing to fail — Benjamin Franklin

Conclusion

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