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Data Quality Blog

http://blog.naveego.com

The Immediate Benefits of a Data Quality Solution

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If you’re relatively new to the concept of utilizing a data quality tool to improve the veracity, timeliness, and structure of your data, then there are some benefits to this investment that you may have not considered. As a business leader, having more accurate metrics on which to run your business sounds great, but how does this change your business in such a way to justify the investment? Here are some simple, immediate, and overarching benefits to consider before you even get into the numbers themselves.

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Need Your Business Data in One Place? Meet Naveego SYNC

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Data’s ubiquitous nature in modern business has only increased in volume over the last five years. Coupled with the emergence of Cloud storage, this means companies are dealing with not only exponentially more date, but also with the fact it’s being stored in an increasing number of places. Across a company, data is captured, accumulated, and stored across innumerable applications, databases, and repositories. How, then, do data professionals generate the required metrics for higher ups to make informed businesses decisions if the company’s data is scattered across a number of silos?

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The GDPR Will Be a Good Thing for Data Quality

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Although in the works for more than five years, the GDPR deadline came and went on May 25 and saw companies big and small scrambling for compliance with the sweeping new regulations. But, as outlets like The Verge point out, very few companies are in full-compliance after the deadline. While the race to meet the new regulations continues, the overarching hope for GDPR is a fundamental change in the relationship between data, consumer, and company. And this change will be a good thing, even if it’s a painful transition.

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The FDA's Opioid Data Was Wrong. These Are the Consequences.

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The Food and Drug Administration learned an important, yet highly detrimental lesson in the importance of data quality this week. You may have seen reports on the news of the mistake, but when we go deeper than the just the headlines, we see just how impactful this situation is for not just the FDA, but for the data vendor, and more importantly, for organizations researching drug abuse across the country.

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The New DMA Initiative Could Be a Model for Other Industries to Follow

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One gets the sense that the business world is finally seeing the imperative nature of data quality solutions. So much so, that we’re witnessing non-profit, membership organizations in the data and marketing space offer new initiatives on this issue as a membership benefit. The Data and Marketing Association recently announced the beginning of the Data Quality Labeling Standards program to help marketing professionals and data experts in the marketing field make better choices on third-party data vendors. To us, this seems like a fantastic initiative for other industries to follow.

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Does Your Organization Need to Invest in Data Quality Help?

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If you’re considering finding out more about data quality solutions, there’s likely a reason you’re doing so. But identifying why a solution is necessary for your business and how it’d make a positive impact are two issues very much worth looking into prior to jumping into a solution head-first. If you’re considering a data quality solution, here are a few questions to ask yourself and your team before taking the issue to the C-Level.

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How to Start Addressing Data Quality in Your Department or Company

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Once properly investigated, it usually doesn’t take much further cajoling to get business leaders to take action to resolve data quality issues. However, due to the scale at which individual departments and companies as a whole have adopted data-driven business plans, it can be difficult for leaders to then pump the proverbial brakes to ask serious questions about their data. In order to help leaders take this step, here are a few simple places to start to get the ball rolling towards meaningful data quality improvements.

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There's a Gap Between Data Quality Confidence and Data Quality Reality

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Upon stumbling across the Banking Technology Vision 2018 report, it became apparent that a common trend related to data quality was evident in the banking industry. In many industries, the data stakeholders are routinely confident in the quality of their data, accepting its validity and accuracy at face value. However, a deeper dive reveals that their confidence is misguided. Here’s a quick look at why feeling good about your data doesn’t mean that your data is reliable, accurate or valid. 

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Moving Towards BI? Think About Data Quality First

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So much attention is being brought to new technologies like Business Intelligence tools and analytics platforms. This attention isn’t unwarranted. The potential for BI, analytics software, and even artificial intelligence is almost limitless and will likely change how companies do business for decades to come. The issue is, in the rush to adopt these incredible technologies, many companies neglect a crucial component to these technologies' effectiveness: data quality.

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GDPR is Coming: Is Your Company Prepared?

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You’ve likely heard about GDPR (General Data Protection Regulation) going into effect for EU nations on May 25. It’s less likely that your data team has had much time to react to this new consumer protection. They may have thought it won’t have any impact if the organization is outside the EU’s jurisdiction. If they thought that, they’d be wrong. There's a lot to learn about the GDPR and its wide-ranging impacts on companies around the world. Here’s a look at why GDPR will be a watershed moment for businesses, consumers, and data management teams alike.

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