Information Management and Data Quality
The creation and development of new technologies has led to an increasing use of information. In the corporate world, productive and decision-making processes are more and more based on huge amounts of information that circulate and accumulate in corporate databases collected in several different ways. Along with this operating model, there comes the concern for the risk of using unreliable and poor quality information, which can lead to wrong, sometimes even disastrous decisions.
Therefore, it is mandatory for the organizations to consider information as an important asset and, in such context, Data Quality is gaining increasing importance. Among other factors, reliable and good quality information helps acquiring new customers and allows revenue increase and cost reduction. On the other hand, poor information quality causes operational inefficiency, jeopardizes decision-making by leading to wrong conclusions, and undermines customer confidence.
Data Quality is a discipline that addresses and evaluates the various aspects – or dimensions – of data, such as consistency, timeliness, accessibility and ease of understanding, among others. Its purpose is to ensure that those who need the information receive it in an accurate manner, in the right way and at the right time, so that it can be consumed with confidence and safety, either in operational processes or in decision making.
Among benefits obtained with Data Quality improvement, we can highlight:
• Decision-making based on reliable information;
• More efficiency of operational and relationship actions that involve customer contact, due to a single and complete view of their data;
• Identification of new opportunities to increase sales, such as cross-selling and up-selling;
• Compliance with regulatory rules, avoiding penalties;
• Consolidated and shared view of information, avoiding the distortion caused by the multiplicity of silos with duplicate and conflicting data;
• Easier data migration to new platforms adopted.
Data Quality is mandatory on projects like CRM, Big Data, Business Intelligence and Analytics. In such projects, Assesso uses DataCare®, a complete solution for data treatment in most varied formats.
If your organization faces such problems, it is time to establish an Information Management program, defined as the joint management of policies, processes, people and technology, aiming to structure and manage the information assets, with the objective of supporting decision making, improving operational efficiency and promoting business profitability.
Information Management main objectives of are:
• Understand the information needs of the organization and the consumers.
• Ensure data quality in capture, storage and consumption processes.
• Continuously improve data quality.
• Maximize the use and effective value of information in the organization.
• Meet the regulatory requirements of the business.
For its implementation, Assesso developed its own methodology based on the principles and foundations of the CDO / TDQM (Chief Data Officer / Total Data Quality Management) program of the Massachusetts Institute of Technology (MIT), a global center of excellence in technology applied to business.
In addition, our methodology is adherent to the Data Management Maturity (DMM) Model® developed by the CMMI Institute.
Contact us and learn how Information Management can help your organization achieve its goals.