For any organization; information and data forms the most strategic assets – In fact, both these combined make the strongest pillars in the success story of any enterprise. In fact, undermining the importance of harnessing business data can be detrimental for an organization, since it adversely affects the decision-making processes.
Managing Business data, therefore, becomes the utmost important task – However, it is one of the most demanding and tiresome jobs to maintain database – you have to constantly be on toes and add new info, edit the existing ones and most importantly, delete the ‘no-longer-used’ data.
It is seen that most of the time, this ‘not-deleting-data’ results into accumulation of old and unwanted data into the database – The result – Bad Data!
Okay, before, going any further, let us get for idea about Bad data:
Bad or Dirty Data can be used for any information which is erroneous, somewhat deceptive, and without any general formatting.
Since, the volume of data is increasing; no industry, no enterprise and for that matter any department (the smallest unit in any business) is not immune to it. Such data, if not acknowledged and fixed at the earliest, can cause serious and pressing issues.
Well, wise men say that ‘every problem has a solution’; so does this issue of bad data too has its solution – Data formatting and cleansing, helps you to get rid of dirty data and make the information structure more robust, smoother and easier to manage.
What Data Formatting and Cleansing
Data cleaning forms an integral part of data processing.
The standard definition given by Wikipedia goes like this: “Data cleansing, data cleaning or data scrubbing is the process of detecting and correcting (or removing) corrupt or inaccurate records from a record set, table, or database. Used mainly in databases, the term refers to identifying incomplete, incorrect, inaccurate, irrelevant, etc. parts of the data and then replacing, modifying, or deleting this dirty data or coarse data.”
Gartner conducted a study to understand how severely, big data can hit Records depository in any organization.
What came out was quite shocking – Fortune 1000 enterprises will lose more money due to operational inefficiency – reason; well, data quality issues. This sum is much higher compared to what is spend on data warehousing and customer relationship management (CRM) plans.
In short, Dirty data has the potential to wreak havoc on the revenue generation of an organization.
Let’s have a look other impacts of bad data:
- Faster Consumption of Resources
- Sky-High Maintenance Costs
- Errors in Mail Deliveries
- Customer Satisfaction and Retention hits The Rock-Bottom
- Increased Churn Rate
- Dissatisfaction Sets in Sales and Distribution Channels
- Spam Counts and Un-Subscriptions Shoots Up
- Worst Thing – Misinformed or Under-Informed Decisions
- Lower Productivity
- Loss in Revenue
Now, the big question that pops in your mind – How to save your data from getting decayed?
DATA CLEANSING AND FORMATTING IS THE ANSWER!
If you have a data warehouse, it is imperative to have some form of bad data working as slow poison to it.
Though preventing data decaying 100% is virtually impossible – Still, impeccable data management holds the key to keep your data clean.
Want to get rid of bad data immediately – Professional assistance will make data management really convenient.
Professionals have effective knowledge of data quality, hence the process of cleansing and enriching your data more efficient.